Silver Price Forecast – buyers continue to step in on value

Silver markets have pulled back a bit during the trading session on Tuesday, reaching towards the $16.75 level before bouncing significantly in reaching towards the $16.90 level above. I think that the $17 level above will of course offer a significant amount of resistance based upon the psychology of the round number, but ultimately I think that we probably break above there and go looking towards the $17.50 level. The market underneath is well supported various levels, not the least of which would be the $16.50 level, and although I am bullish of summer, I don’t put a lot of leverage into any position as it is so dangerous at times.

The easiest way to trade Silver for me at least, is to buy physical silver and cash in later due to it being an investment. I think that the “ceiling” in the market right now is closer to the $20 level, and if we were to break above there we will see an explosion to the upside. I do not expect to see that anytime soon though, and that should make that clear. I think that short-term pullbacks continue to offer an investment opportunity occasionally, and eventually we will break out.

If you are short-term trader, it’s possible you CFD markets or even futures markets, but I would do so with a bit of a bullish bias, and therefore look for short-term pullbacks offer value. I would not try to short this market, although we will certainly see selloffs occasionally.

SILVER Video 13.06.18