Silver markets continue to find buyers

Silver markets initially fell during the day on Monday, reaching down to the $16.25 level, an area that has been important more than once. We have bounced from there to reach towards the $16.50 level, an area that has been resistance. We have pulled back a little bit during the trading session as that level offered enough resistance, extending to the $16.60 level after that. Ultimately, I think that the market will continue to react to the strength in the US dollar and of course geopolitical concerns. If we were to break above the $16.60 level, that could free the Silver markets to go towards the $17 level.

In the short term, it looks like we are probably going to pulled back slightly, perhaps finding support near the $16.30 level. I believe that there are buyers underneath though, so any short-term move to the downside is probably somewhat limited. Overall, I prefer to buy silver in small increments, or perhaps even in its physical form so that we don’t have to worry about the volatility that of course can make this market very difficult. I believe that short-term pullbacks offer value that most people will be willing to take advantage of, but if you are highly leveraged in the short term, I think that the market could spook you out. Ultimately, I am a buyer, but I am so with serious caution.

SILVER Video 22.05.18