Silver has reached new highs. How can we seize the opportunity?

The risk of a US government shutdown has fueled increased risk aversion in the market. Meanwhile, the Federal Reserve's lack of key economic data has further solidified expectations of a rate cut at its October meeting, pushing down the US dollar and providing momentum for silver prices.

Silver experienced a significant correction last week, but the bullish trend remains strong. This week, it continued its upward trend, reaching a new high of $48.5. Currently, the support level is gradually shifting upward, with $46 as support. We can watch for pullbacks and buy long positions above this support level. Meanwhile, the upward pressure is also very strong. After the market digests the news, the lack of momentum will inevitably lead to a pullback. Therefore, we can focus on establishing short positions around $48.5.

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