Silver Price Forecast – Silver Markets Continue Recovery

Silver markets have rallied considerably during the last 24 hours, after the Federal Reserve was a bit less hawkish than anticipated. The also left the door open for e-zine if it was necessary, and that of course is something that people will be paying close attention to. Quite frankly, silver desperately needed to recover in the area that we had been in, because it had been so oversold and was threatening to break down completely. Because of this, I do believe that this is a market that will continue to attract a certain amount of attention, as the $22 region has been so crucial.

SILVER Video 17.12.21

In fact, we did not make a “lower low” on the longer-term chart, but we came within a few sense of doing so. We have since rocketed straight up in the air and it does suggest that we are about to reenter the previous consolidation area that extends all the way to the $25 level. Whether or not I would be a huge buyer of silver at this point is a completely different question, but I think a break just above the $22.60 level does in fact turn this into more of a “buy-and-hold situation. We are right on the precipice of something big happening, but you do not want to jump the gun because we could also get a significant pullback as we are threatening resistance as I write this article. Pay attention to the US dollar, if it continues to sell off that should help silver in general, as it does tend to have a negative correlation over the longer term to the greenback and of course interest rate/real rate differential.

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