Silver Price Forecast February 20, 2018, Technical Analysis

Silver markets went sideways on Monday, as precious metals markets were rather quiet. I believe that the US dollar is the main driver of the Silver markets, and I believe that if the US dollar falls, that will be reason enough for silver to go reaching towards the $17 level above, which has been resistance. I believe the $16.50 level underneath is supportive, and I believe that the market is going to find plenty of reason to go higher over the longer term, so I look at those pullbacks as nice buying opportunities. The $17.50 level above is a bit of a “ceiling” in the market, but I don’t think it will hold in the long term.

If we do break down from here, I believe that the $15 level underneath is the absolute “floor” in the market, and I believe that it is only a matter of time before the buyers would flush in looking for value in that area. To be honest though, I would be stunned if we reached that level. I believe that the overall attitude of Silver markets is to go higher, but I also recognize that they tend to be very volatile. I would stay with the low leverage, and perhaps physical silver, with an eye on the next few years. This is more of an investment than anything else, and therefore it’s difficult to trade this market in futures markets and the like. However, if you are a “stacker”, that should be very attractive.

SILVER Video 20.02.18