Silver Price Forecast – Silver Markets Continue to Hover Around $25

Silver markets have been a little bit noisy during the trading session on Thursday, but as you can see, we have found support yet again near the $24.75 level. The market continues to see a lot of concern due to the idea of the industrial usage, as it seems to be exploding at the same time all other commodity usage is. Because of this, it is very likely that we will continue to see this market as one that could lead the way higher as far as prices are concerned, so keep in mind that silver does tend to be very volatile. With that being the case, it certainly makes quite a bit of sense that we would see a need to keep your position size relatively small. That being said, it is only a matter of time before we go higher from what I see, and especially if we can stay above the 200 day EMA.

SILVER Video 19.11.21

When you look at the chart, you can make a serious argument for an inverted head and shoulders being broken to the upside, which of course is bullish in and of itself. The “measured move” suggests that silver could go as high as $28.50 in the long run. I do not expect that to happen overnight, because silver does tend to be very erratic and its behavior but at this point it certainly looks as if the momentum is working out in its favor. I believe at this point it continues to be a “buy on the dips” scenario, at least on short-term charts. I would not get too big in this market quite yet, but if we take off above the $25.50 level, that would be the next leg higher showing itself.

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