Silver Price Outlook – Silver Gets Absolutely Crushed After Tariffs

Silver Markets Technical Analysis

The silver market has been absolutely pummeled during the trading session on Thursday as we continue to see a lot of trouble out there when it comes to concerns about global growth. And it is worth noting that silver of course is an industrial metal, right along with precious metal. So, keep in mind that a lot of traders will look at this through the prism of whether or not their demand will pick up.

We are still technically in a bullish trend, but losing 5%, almost 6 % before New York even gets on board is something to pay attention to and I suspect that you’re probably going to be better off waiting to see if it can bounce and if and if when it does then fine, you can take advantage of that. That being said, market participants will have to be very cautious trying to play some type of bounce. It is going to be a situation where we need to hold the 200 day EMA, and we may test that very quickly.

If we break down below the 200 day EMA, then this market could be in serious trouble. Silver is definitely more apt to fall quicker than gold. So, keep that in mind. And with that, I think you have to be aware of the fact that if metals really start to unwind, silver will lose much more quickly than gold. In fact, gold’s down about 2.2 % as I record this, and of course, silver is down 5.8%. So, on the way down, silver is the one you want to short, but on the way up, it can be a great buy. But always remember that it tends to move with gold, but it tends to have a more outsized move.

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