Silver markets continue to show strength on Thursday

Silver markets have been very volatile during Thursday trading, initially pulling back but finding enough support at the $17.10 level to continue the uptrend. We have broken above the $17.30 level, and I think that it is only a matter of time before we continue to go even higher, perhaps to the $17.50 level. I believe that the $17 level underneath should be support as it was previous resistance, but keep in mind that the Silver markets are very reactive to headlines around the world when it comes to such places as Syria, North Korea, and of course any type of mention of a trade war between the United States and China.

I believe that longer-term, summer should continue to be very bullish and volatile. It is because of this that I am a bit cautious about putting too much money to work at one time, but I do like buying for the longer-term move. You need to be able to keep your position size somewhat reasonable, adding as the market proves itself to you. I believe that the market will continue to be very heavily supported though, so I think that jumping and slowly in building up to a larger position for the longer-term move. I believe that the market should continue to offer plenty of opportunities, but you will need to be cautious, but longer-term I think that the market will go looking towards the $20 level above, and a break above there could open the door to the $50 level for the longer-term investor.

SILVER Video 20.04.18