Silver Price Forecast – Silver Continues to See Volatile Moves in Friday Selloff

Silver Markets Technical Analysis

Silver markets have broken down pretty significantly in the early hours of Friday as we continue to see a lot of noise in general. With this being the case, I think you have to assume that market participants are perhaps running away from silver and towards the dollar, which if you look in the Forex markets, that’s exactly what happened. And now the question is whether or not we can continue to see buyers come in and support silver. I think we do eventually, perhaps somewhere near the $32.50 level, we start to see that.

We also have the 50 day EMA near the $32.35 level, which of course is an area that I’ve brought up multiple times in the past. So that is worth watching. Quite frankly, I think this could end up being a nice buying opportunity for silver. If you know, things keep going the way they are as the overall trend is still very intact.

There’s still plenty of reasons to think that maybe silver will continue to be attractive as the US dollar is on the decline overall, despite the fact that the session on Friday was the opposite. But nonetheless, I like this trend. I am a buyer of dips. I just need to see a little bit of stabilization on short-term charts, and perhaps a little bit of a bounce to add to more of the momentum. Regardless, I have no interest in shorting solar anytime soon.

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