Silver Price forecast for the week of March 5, 2018, Technical Analysis

Risk aversion has come back to the marketplace as tariffs announced by the United States have scared some traders. Because of this, Silver has recouped most of the losses during the week and have formed a hammer. It looks as if we are going to continue to find buyers on dips, and therefore we should continue to see plenty of buying opportunities. I believe that the longer-term trader is probably accumulating a larger position right now, as volume has picked up, and of course the $15.50 level has been very stubborn as far as support is concerned.

Ultimately, this is a market that I think will go looking towards the $18 level, perhaps even looking towards the $20 level. I think that the market will eventually break above there and go towards $50 level again, and that is the move that I’m hoping to see over the next couple of years. I buy physical silver as a result, but I recognize those who play shorter-term markets will be using this more or less as a range bound market to be involved in. I think that Silver makes a great addition to any portfolio, as it is a cheaper way to get involved in the precious metals market as we can pick up little bits and pieces with less capital outlay. Ultimately, I think that selling silver is all but impossible, especially from a longer-term standpoint as there so much uncertainty.

SILVER Video 05.03.18