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Core Insights - The silver market has experienced a strong upward trend, rising for five consecutive days and reaching a new high of $75, driven primarily by robust industrial demand, particularly in the solar energy sector [1] - Industrial consumption accounts for 65% of silver demand, with the solar industry representing 15%. The demand from electric vehicles and AI data centers is also surging, with an electric vehicle requiring an average of 25-50 grams of silver, potentially increasing to 1 kilogram per vehicle with the adoption of solid-state battery technology [1] - By 2025, the global silver supply-demand gap is projected to reach 95 million ounces, exacerbated by a 12% year-on-year decline in production from major producing countries like Mexico and Peru, and a mere 1.2% increase in recycled silver [1] - Global silver inventory distribution is highly uneven, with London silver stocks down approximately 75% from their peak in 2019, and transportation bottlenecks affecting New York COMEX inventories, leading to liquidity issues in the global silver market [1] Technical Analysis - Short-term bullish signals are strong, but caution is advised regarding potential overbought pullbacks, with key support and resistance levels to monitor [3] - The MACD indicator shows bullish signals across multiple time frames (15 minutes, 1 hour, 4 hours, daily), indicating strong short-term upward momentum [3] - The KDJ indicator is signaling bearish trends in the short term, suggesting overbought risks [4] - The RSI indicator shows mixed signals, with bearish indications on the 15-minute and 1-hour levels, while the 4-hour and daily levels indicate bullish trends, reflecting significant market divergence [5] Support and Resistance Levels - Key support level to watch is $72.720 per ounce; a drop below this level may lead to further pullbacks [6] - Key resistance level to monitor is $75.495 per ounce; a breakthrough could initiate a new upward trend [7] - Short-term analysis suggests strong bullish signals from MACD, but KDJ and RSI indicate overbought risks, recommending cautious approaches to buying [7]