July silver futures (SIN25) present a buying opportunity on more price strength. 

See on the daily bar chart for July Comex silver futures (SIN25) that prices are trending higher. See at the bottom of the chart that the moving average convergence divergence (MACD) indicator has just produced a bullish line crossover signal. The bulls have the overall near-term technical advantage to suggest more gains ahead.

Fundamentally, the safe-haven demand that is driving gold prices (GCM25) into the stratosphere is also bullish for silver. It’s my bias that gold prices at record highs will drive more substitution demand to the silver market, as silver prices are currently seen by many as a value-buying opportunity, compared to gold. Gold prices are at record highs but silver prices are still well below their record highs.

A move in July silver futures prices above chart resistance at last week’s high of $33.47 would become a buying opportunity. The upside price objective would be $39.00 or above. Technical support, for which to place a protective sell stop just below, is located at $31.50.

IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature.

Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): 

Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.