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Can silver still go up from here?

Silver is expected to go up from here. The nay sayers think that silver has already had a parabolic rise and hence it's upside is restricted.


(Courtesy: Stockcharts.com)

Silver price is still within Bollinger bands. Anytime the price goes outside of the Bollinger bands, price is unsustainable. Between November 5th and 8th of last year price broke out of Bollinger band and silver took a dive for the next week. Price of SLV broke above the Bollinger bands again around December 6th and yet again price took another dive for next couple of days. The same happens again at the beginning of this year.

Current SLV price is still within Bollinger bands and hence it has more upside. If SLV breaks above the Bollinger bands decisively for at least a couple of days that's where I will look to short SLV. Until then keep your longs.


Disclosure: I am long SLV.