Silver forecast for the week of February 26, 2018, Technical Analysis

Silver markets continue to cause a lot of noise, with a slight drift lower during the week. We are consolidating overall, and I believe we are building a bit of a base for longer-term traders to hang on to silver. However, I would hang onto physical silver, as it is easier to deal with the swings and volatility without the leverage. Otherwise, you could trade a CFD market position, allowing you to trade this market with a smaller position. I believe that the market continues to be one that will eventually find buyers, especially considering how the US dollar is behaving.

I believe that the $18.50 level will offer resistance, but if we were to break above there the market should continue to go towards the $20 handle. Short-term pullbacks should be buying opportunities, and I have no interest whatsoever in selling. The $15 level underneath should be the “floor” in the marketplace, and I do believe that given enough time money would flood into the marketplace in that area. Futures trading will be almost impossible, unless you can trade from a shorter-term perspective. The way the market has been trading as of late, it’s likely that short-term traders will continue to trade in a tight range. Ultimately, I think that later this year we will eventually break out of the consolidation and drive much higher. Because of this, I have been buying silver rounds lately, and plan to continue to do so. If we somehow break down below the $15 level, the market continues to break down.

SILVER Video 26.02.18