Silver markets rally during the week, showing signs of continued stability

Silver markets rallied a bit during the last week, reaching towards the $16.75 level. There is a certain amount of resistance near the $17 level as well, so I think that short-term trading will continue to be the way this market goes, unless of course we get some type of massive turnabout and risk appetite. A break above the $17 level could send this market to the $17.50 level, and possibly beyond that. I also recognize that the $16 level underneath will be support, extending down to the $15.50 level. I look at this market as one that continues to offer short-term buying opportunities, but I think that the choppy overall attitude of the market is one that you should probably continue to see, so I think that the Silver markets will probably be best traded from the short-term, as there is no clear momentum.

Headlines coming out of the United States and China will continue to move this market, as it gives us an idea about the overall risk appetite around the world as traders decide whether there is going to be a trade war or not. I believe that the market will eventually find enough reason to go higher, but there is also the volatility were about, so I would stick to a short-term trading system, unless of course you are willing to buy physical silver for more of an investment than anything else. I don’t have any interest in shorting this market, I believe there is more than enough support underneath.

SILVER Video 16.04.18