Dave Kranzler: Silver Rally May Be Due For A Correction

#DaveKranzler: #Silver Rally May Be Due For A Correction

We've seen a significant rally in the #silverprice over the past few months, with silver rallying from the $20 level in mid-March, to over $26 by mid-April, before settling back to the current level of just over $25.

So of course the possibility always exists for a correction after a sharp rally such as the one we've just seen. Which is what Dave Kranzler talks about in today's show.

He mentions that he's concerned about the possibility of a pullback before a continuation of the rally, and shares some of the indicators he's looking at right now. He also talks about where he sees the market going over the longer term, and some of the reasons driving that bigger trend.

So to get some insight into what might be coming next and why, click to watch this video now!

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And remember to get outside and have some fun every once in a while!:)
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[Spirit-FilledMindset]

There shouldn't be a correction. If there is, it is blatant manipulation. Prices should be higher for all precious metals.

[km]

For silver, a "correction" would be the price moving UP. When silver goes down it's called a "blunder".

[dongoble]

Silver is way passed due for a correction upward not downwards!

[kryptobear]

Everyone on YouTube saying we are due for a correction.
This has caused it to go down.
Should be saying silver is the most undervalued asset on Earth buy it NOW !

[shadowbanneddays]

I didnt notice a rally...aren't we at 25.00

[overseas_demogod]

Listen Dave, with all due respect, save your breath. I read the Silver Institute report and this is the 4th year of a supply deficit of over 200 million ounces without counting hundreds of millions in investment demand, premiums are skyrocketing, gold is about to get monetized worldwide and the US is about to redefine Great Depression...so let's simplify the future, buy some silver and get some popcorn because the show is about to begin.

[ronbell]

Wow! Thank you so much! I really love this channel. You guys have really helped us little guys out here. I just picked up 48+ ounces worth of mercury dimes at $3 over spot! Sold by weight. I was very fortunate to get those today! Im a happy camper.

[josephguerriero]

I really don't see much of a downdraft from here. I think it will be limited and between $26-$24 range, but I don't think there will be another leg down, based on the charts. We already broke out above 26 if you look at the chart and we had several days where we closed above the top channel. While we are back in the flag channel, since we already broke up, we'll go back there to challenge that top and I think we go higher. Be patient. I think over the next several months we are going to shoot up to about $45. I think we pull back at $45 so for a short term trade you might want to target that as a first stop. But it will pull back and we will go much higher than that above $50. I think Silver is worth 3 digits right now---I'm thinking about $325/ounce is where it should be. There is no way they can tamp silver or gold back down that much----it will be obvious and it will just bounce back up pretty fast. They can't keep it down anymore under these conditions.

[ColeWheelerLyfe]

Dave telling us to essentially -touch grass- was wonderful.

[marcushoward]

Don't worry, if the price drops to four dollars an ounce, the premiums will rise to $45 an ounce.

[johnrubino]

Denver Dave is nuts to make a correction call. Demand in 2022 was 1.242 million oz. This year the silver demand is bigger and growing. The world produces 850 million oz a year. Silver stocks are low and almost gone. Just buy and buy and soon price is going to explode.

[vboccanf]

Thanks Dave, good info! I’m hoping we get a little downturn so we can load up!

[DavidGurneyCow]

Everything “may be due for a correction.” What a useless message.

[silverback]

They sideways it after it came off 18 last year rhen went up near 24 they sideways it to 21 25 then back 26 down to 23... next time maybe tops 27 they sideways it then down it to like 24... basically they will do everything they can as long as they can until nothing works

[theodoreboosalis]

I'm hedging my stacks now - both gold and silver - 1 put each - I have more than the contracts on each anyway - so if it explodes - limited risk maximum reward. I believe this is a pivot point and I would be remiss to hedge them with cash puts. I gave them enough time too.

[povarful]

We are silver freaks won't ever see 50+ silver. 😢

[skypilot]

Yes a week before the options expire, they start to manipulate the silver price down more aggressively until the options expire and the contracts roll over. So by tomorrow’s closing, it will be a good time to chip in a little silver. If they can’t push silver down below $25 tomorrow, that’s a bullish sign for silver.

[patrickruvolo]

pullback will be complete by next Tuesday if it happens

[ehjost]

Thanks Dave, always look forward to you except I have to hear it at 1.5 speed. Yall just to laid back. LOL

[truthwatcher]

Ugh. This just might be the pull back. Fear is rampant with the new Yuan petro currency coming out. Only in paper would silver fall.