Silver very noisy during Tuesday trading

Silver markets initially drifted lower during the trading session on Tuesday but found enough support near the $16.55 level to turn things around and bounce higher. I think that the market is trying to form a bit of a base in this region, as it has been the bottom of the overall consolidation. I think that we will probably go towards the $17.25 level, although it will take a lot of effort to get there. I think that the market should continue to find more than enough reasons to look towards the upside, and I think that the Silver markets will be highly sensitive to where the US dollar is moving. The US dollar has been stronger over the last couple of days, and that in fact has been one of the major drivers of silver to go lower. I think that if we can break above the $17.30 level, then the market will go looking towards the $17.50 level after that.

I believe that the $16.50 level continues to be an important area, and I think that we will continue to see buyers near that area. I think that the market will obviously be very volatile, so keep your position size reasonable, as getting too aggressive could cause a lot of issues for those who cannot deal with this type of volatility.

SILVER Video 25.04.18