Silver Price Forecast – Silver Continues to See Grinding Action

Silver Markets Technical Analysis

Silver initially rallied during the trading session on Wednesday, but as you can see, the market has pulled back quite a bit. That being said, it’s worth noting that the $33.33 level is an area that a lot of people will be paying close attention to, as it’s been important multiple times. That being said, I also think that we could see absolute chaos in this market due to the fact that the so-called Liberation Day coming from the United States at the end of the trading session in New York will be very dangerous for risk appetite as Donald Trump is set to announce more tariffs.

With that being the case, I think you have to be very cautious at the moment but recognize that we could end up seeing a pullback and a buying opportunity here. It just is a market that really at this point in time, I think you have to be very cautious with, although, let’s be honest, that’s normally the case with silver.

If we were to break down below the $33 level, then we have to look at the 50 day EMA. On the upside, the $35 level is massive resistance and if we were to break above there, then silver could really start to launch. I don’t necessarily think that’s what’s going to happen easily, but I do think over the longer term, that’s probably what silver does as it is one of the more volatile assets out there.

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