SilverCrest Metals $SILV Testing Resurrection Cross

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SilverCrest Metals $SILV is testing a Resurrection Cross on January 25, 2023. The stock is in a technical uptrend. $SILV stock has recently broken above its 200 day moving average and a Resurrection Cross confirmation appears to be eminent.

SilverCrest Metals stock chart on January 25 2023 with a break above the 200 day moving average with the money flow going positive
SilverCrest Metals stock chart on January 25 2023 with a break above the 200 day moving average with the money flow going positive

The Fed is likely to stop raising interest rates by the middle of 2023. Given the excessive strain that additional rate hikes would place on the already heavily indebted financial system, the market is sensing that monetary policy is changing and that rate increases are unlikely. This explains how gold and silver have been moving lately. In particular, silver has increased by almost 30% in the past six months.

A small-cap Canadian silver producer with operations in Mexico is SilverCrest Metals. One of its unique assets is the Las Chispas mine. At roughly 979 g/ton, it has the third-highest grade among silver-primary assets worldwide. Its Las Chispas project has some of the strongest economics in the industry, and if the company keeps delivering, it could turn SilverCrest into an ATM. SilverCrest is poised to become one of the world’s highest-grade, most affordable silver producers having just begun commercial production.

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