Silver forecast for the week of December 25, 2017, Technical Analysis

Silver markets rally during the week, breaking above the $16 level. Because of this, it looks as if the market is ready to continue the overall consolidation that we have seen during the year, meaning that we could go as high as $18. I think that longer-term traders are going to continue to buy and hold Silver, and although short-term traders could be willing to buy this market, I think that it is much easier to buy this market from a physical standpoint, but I also recognize that you could buy something like the SLV ETF, or even the CFD markets. I think that Silver is going to have a good couple of months ahead, and that the $15.50 level looks to be massively supportive.

If we were to break down below the $15 level, that would be very negative. However, on the weekly chart the stochastic oscillator is crossing just above the oversold level, sending this market to the upside as well. I have no interest in shorting, I believe that the US dollar is going to continue to fall, against both the euro and the British pound, leading us into a “risk on” attitude. That has the possibility of driving Silver to the upside as well. If we get some type of geopolitical headline crossing the wires that have people flooding into precious metal, that could help Silver as well. I think that this is going to be a very volatile market, but then again Silver typically is. I believe that the Silver markets continue to be noisy, but positive in general.

SILVER Video 25.12.17