Silver Price Forecast – Silver Continues to Grind Higher Overall

Silver Markets Technical Analysis

The silver market has found the $32.35 level as support during the early hours on Monday. And it looks like we are turning around to perhaps take off to the upside. All things being equal, if we can rally from here, the $33.33 level is an area that I think if we can break above there, then the market could go looking to the $35 level.

Short-term pullbacks at this point in time continue to see plenty of buying pressure all the way down to at least the $31 level from what I can see. The 50 day EMA is between here and there. And therefore, I think it also comes into the picture as potential support as well. That being said, if the gold market continues to rally the way it has, I do think it will drag silver higher with it eventually.

Silver is not gold, though, and silver has other things going forward that it has to think about, such as industrial usage. Keep in mind, there are a lot of concerns about tariffs and the like over there in the markets, so with that being the case, they really have to wonder about demand.

Nonetheless, I do think when you look at the longer-term trajectory, it’s in an uptrend. There’s really no doubting that. So I am a buyer of dips, but I would do so in small positions because silver gets extraordinarily volatile and can be dangerous if you’re over-levered or if you get too aggressive with it.

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