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• You can see that we have in fact gone back and forth during the session here on Monday as chaos reigns around the world.
• We have a scenario where traders are looking at the rec that we've seen happen in the technology sector as deep seek has caused all kinds of chaos.
• While that doesn't necessarily make you think of silver right away, what it does make you think of is all of the massive risk-off behavior that we've seen. That of course doesn't help silver.

Video Length: 00:01:57

Silver is an extraordinarily volatile and risk-on type of asset under the best of circumstances. So clearly that didn't help. Now, do I think that is the be-all end-all for silver? Absolutely not. I think Silver continues to see a lot of volatile but positive momentum on dips. I don't necessarily think that silver is something that's going to break out though. I think what we've got is a major barrier in the form of $31.

If We Break Higher
 

If we can break above the $31 level, then I do believe that silver really starts to take off in that environment. I'd be very interested in buying it and aiming towards the $32, 35 cents level. The 200 day EMA seems to be offering a little bit of support and underneath there we have the $28.75 cents level offering massive support as well. And I think that's the bottom of your consolidation. Right now, I just think we have a lot more back and forth in the silver market. So, you have to be very cautious and look at this as a range-bound opportunity for short-term traders. This is a market that I think a lot of people will look to for short-term traders in general. I would be somewhat hesitant to get too big as far as position size.

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