Silver markets rally on Friday

Silver markets rally during the trading session on Friday, breaking above the $16.60 level. The market looks likely that we are going to continue to go higher, perhaps to the $16.80 level, but I think at this point every time we pull back you should look at it as a potential value play. I believe that short-term pullback should continue to be the best way to play this market, as it gives you the opportunity to pick up a bit of value. I do believe that Silver will go higher over the longer term, but I also recognize that Silver markets tend to be very volatile in general.

I think that the silver market should continue to go higher over the longer term, but we need to see a bit of a “risk on” move, and of course calmed of tensions between the United States and China. If we do break down from here, I suspect that the $16 level would be a hard “floor” in this market and should continue to be very supportive. I think that the best way to play this market is probably through physical silver, or perhaps even buying short-term positions in the futures market if you have the correct size account.

This is a marketplace that moves right along with gold and platinum, so pay attention to those markets as well. If the US dollar falls, it suggests that Silver should go higher as well, so I think it is only a matter of time before a shrinking greenback should help this market place go higher.

SILVER Video 16.04.18