Silver Price Analysis – Silver Continues to See Volatility

Silver Technical Analysis

The silver market has gone back and forth during the early hours on Monday as we continue to hang around the $80 level. We also have the 50-day EMA sitting just below that could offer a bit of support as well, as per usual.

Market Outlook and Risks

I think the biggest thing to pay attention to when it comes to the silver market is the 10-year yield in America. If it starts to drop that should be good for silver, but obviously it jumped at the open as conflict resolution in the Middle East seems to be pretty far from us.

If we can continue to go higher though, I think we will eventually go looking to the $90 level. It just may take some time to get there. If we break down below the 50-day EMA, we could find ourselves down at the $70 level, which is a large, psychologically significant figure with a substantial amount of support.

I do think that regardless of what happens next, you should be very cautious with your position size and generally speaking, that’s a really good idea when it comes to silver anyway. It’s just so volatile.

I look at this as a market that needs to be very carefully watched, but I do favor the upside still. It just comes down to whether or not we can get enough calm in the bond market to make that a real possibility. Because of this, unfortunately, we’re still going to be watching headlines coming from the Middle East, and the influence they will have on everything else

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