Silver Price Forecast – Silver Continues to See Volatility

Silver Markets Technical Analysis

The silver market has gone back and forth during the trading session on Monday in the early hours as we continue to see a little bit of hesitation in general, that does make a certain amount of sense considering that we have seen a pretty significant sell off, but then saw a fairly strong bounce from the 50 day EMA.

Speaking of the 50 day EMA, I believe it continues to offer significant support right around the $30.20 level. Just as the $32.50 level above makes a bit of a resistance barrier. As long as we can stay above the $30 level, I think you’re probably going to see the market try to chip away at significant resistance above and then eventually break out. This would of course be a great sign, and that could send silver much higher.

If we get a daily close above that crucial $32.50 level, then I do think that silver continues to go much higher, which would make a certain amount of sense considering that the bond market is telling us that inflation is probably going to pick back up. And with this, I think we’ve got a situation where traders will continue to see a lot of noise and therefore, I think you will also continue to see more value hunting than anything else, as the markets continue to see plenty of reasons to go higher over the longer-term. The market has been noisy, but positive for some time now, as we continue to see positive momentum from a longer-term perspective.

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