As expected with it’s strong action through Friday’s close, silver has exploded in today’s London and electronic market trading, blasting .45 higher to $32.28, and slicing through $32 like a hot knife through butter.
We expect some resistance near $32.50-$33. If silver is able to clear this level as volume returns to the markets come Tuesday, silver will likely target $35 in a disorderly move to the upside.
Silver’s gap between Friday’s chart action and this morning’s is significant, with nearly $1.50 separating the price action on the daily chart!:
Get ready for an explosive week ahead as traders return from their summer vacations to find silver nearly 20% off it’s recent lows.