Silver: Tuesday through Friday outlook

Silver range-trades between roughly $73 and $79 all week. There is no clear trigger for a breakout above $79.95 (prior week high) while Mercury is in Aries. On the downside, the Saturn floor and Venus support hold the $73-75 zone reasonably well.

Tuesday: Recovery bid with the rest of the metals complex as the Moon shifts to Sagittarius. Silver may trade up to $77-78. Not a chase.

Wednesday-Thursday: Purva Ashadha Moon and Venus energy provides general commodity support. Silver can test $78-79 area. Still below the $79.95 resistance. VR-S-Br2 (Mercury Aries) keeps a lid on it.

Friday: Constructive close but no breakout. Range $76-79.

Key levels

Resistance: $79.95 (prior week high, key level to break for bull continuation)

Support: $75.46 (prior week low), $73-72 (major)

Technical gate: TRANSITION, RSI 50.7 (neutral)

The call

No new longs this week. Wait for Mercury to exit Aries around May 15. That is when VR-S-Br2 clears and the bullish base scoring can express itself fully. Anyone already holding silver from lower levels can stay with stops below $73. Silver likely underperforms gold on a relative basis this entire week, which itself is a tradeable signal if you run spread positions.

The Friday close of $76.43 with a 2.18% gain was a decent number, but it came on a day when Mercury was less combust. As the week progresses and combustion deepens, silver’s ability to sustain rallies decreases. That is the mechanical reason behind the cautious view.

Check back next week. The Mercury exit from Aries on May 15 sets up a better entry.