Silver Markets Continue to Find Buyers

Silver Markets Technical Analysis

Silver markets have fallen a bit during the trading session on Thursday to reach down to the 50 Day EMA, turning around to show signs of life again. That being said, the market is very likely to continue to see more of a “buy on the dip” mentality, perhaps pushing the market to the $25.50 level. This is obviously a very bullish pattern that we have seen over the last couple of days, and it does suggest that silver is trying to put in a short-term bottom.

That being said, the Friday session is going to feature the jobs number coming out of the United States, which will have a massive influence on the US dollar, which by extension will have a major influence on the silver market. Because of this, I would anticipate a lot of volatility during the Friday session, but it seems as if the market is willing to try and start picking back up yet again.

Alternately, if we break down below the hammer from the Tuesday session, it would not only breakthrough specific support, but it would also break down through the 200 Day EMA. At that point, I would anticipate that silver goes looking to the $23 level underneath. After that, the market could drop as low as $22. That being said, we would need to see a spike in the US dollar to send the silver markets to lower like that. In fact, you can even make an argument about the market perhaps forming a bit of a falling wedge, which is a bullish pattern in and of itself. I prefer the upside but will pay close attention to that 200 Day EMA.

Silver Price Predictions Video 01.04.22

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