Silver Price Forecast – Silver Continues to See Volatile and Bullish Momentum

Silver Markets Technical Analysis

Silver has gone back and forth during the course of the trading session on Tuesday in the early hours as we continue to try to fight our way higher. All things being equal, the $35 level, of course, is an area that we will continue to pay close attention to as the market has been so noisy that given enough time, I think eventually we have buyers come back in and try to push. But the question is, will the $33.33 level hold? At this point, it would seem so.

I do think at this point in time, a bounce from here is very likely, but if we were to break down below there, then the 50 day EMA underneath is the next major support level. Silver, of course, is being dragged higher by gold overall. And of course, we have to worry about the questions when it comes to whether or not the economy is slowing down or whether or not global trade will continue to slow down.

After all, we have seen a lot of headline risk out there, and that just causes chaos in markets like silver, which of course is extraordinarily volatile under the best of times anyway. Ultimately, I think this is a scenario where you’re looking at dips and potential buying opportunities, but you have to be very cautious with your position signs because silver can really punish you when you’re wrong about the direction of the market, and the overall risk appetite of traders.

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