Silver Markets Breakthrough 200 Day EMA

Silver Markets Technical Analysis

Silver markets have fallen rather hard during the trading session on Monday, breaking significantly below the 200 Day EMA. At this point, the market looks as if it is trying to break through the $23.50 level, and perhaps to fall down to the $23 level. Rallies at this point in time should be selling opportunities going forward, as long as the US dollar continues to be strong against almost everything.

The 200 Day EMA of course is a longer-term indicator that a lot of people pay close attention to, so the fact that we have broken through there is a very negative turn of events. That being said, if we were to turn around and break above the 50 Day EMA, that could change things completely, perhaps opening up the possibility of a complete turnaround. However, it is very difficult to think that is going to be easily accomplished because the momentum has been so negative for some time. I do believe that eventually, we could go down to the $22 level, but I do not know that we get there right away.

Silver tends to be very noisy, so be cautious with your position size and make sure that you have your stop losses set appropriately. That being said, we have clearly broken through major support, so the sellers seem to have taken over at this point. I have no interest in buying silver, but if I do see the metals turnaround, I will probably pick up gold.

Silver Price Forecast Video 26.04.22

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