Silver Markets Continue to Show Strength

Silver Markets Technical Analysis

Silver markets have rallied again during the trading session on Monday to show signs of life again, breaking above the $26 level quite handily. After that, now we are going to threaten the $26.50 level. If we can break above the $26.50 level, is likely that we could continue to take off toward the high that we recently made. Keep in mind that silver is highly volatile, so keep an eye on your position size, because quite frankly if you get a little too aggressive, the market could put a dent into your account.

At this point, I would anticipate that the $25.50 level should be supported based on the previous action, and therefore we need to pay close attention to how things are playing out as far as risk appetite is concerned. This area should offer a certain amount of support, but even if we break down below there, the market is likely to go checking the 50 Day EMA, which is sitting at the $24.83 level. Looking at this chart, it is worth noting that the highs of the day were near the $26.50 level. At this point, it looks like short-term pullbacks will continue to be buying opportunities.

The size of the candlestick is rather impressive, so it does suggest that there is a lot of interest in this market. Having said that, it should be noted that the market has had very little in the way of liquidity during most of the session as a lot of major banks around the world were closed. Regardless, it is an extension of what we had been doing before, so I still favor the uptrend.

Silver Price Forecast Video 19.04.22

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