Silver markets continue to chop around during the session on Tuesday

Silver markets were very noisy during training on Tuesday, as we continue to see a lot of volatility around the world. The market found support just above the $16.55 level during trading, and then went much higher as market participants got very bullish. I think that the market will continue to see a lot of volatility going forward, as Silver is notoriously volatile anyway. I believe that the US dollar will have the usual influence on this market, as the US dollar falling in value will help lift the Silver markets higher. I think that the $16.50 level is going to be a certain amount of support for the market, extending down to the $16.40 level. I think that buying dips will continue to be buying opportunities, but I would be cautious about putting too much money to work, unless you have a longer-term time horizon like I do.

For myself, I’ve been buying physical silver for months now, as I anticipate that given enough time we will continue to go higher. The $16 level underneath is essentially the “floor” in the market, just as the $17 level above is resistance. If we can break above the $17 level, I think that the market could go to the $17.25 level, perhaps the $17.50 level. I’m cautious, but also recognize that there are buying opportunities just waiting to happen. The lower this market goes, the more likely I am to put money to work.

SILVER Video 18.04.18