Silver Price Forecast December 15, 2017, Technical Analysis

Silver markets initially went sideways during the trading session on Thursday, but then broke down below the $16 handle. We reached as low as the $15.80 level, but it looks as if we are trying to find a reason to bounce from here. The market looks likely to find buyers in this general area, but I think there is enough uncertainty with interest rates out there to keep the silver market somewhat afloat, and I also believe that the $16 level above will be rather resistive.

If we were to break above there, I think the market can go much higher, but I prefer buying physical silver, as it keeps the leverage and danger down, and I think that the market is probably best traded to the upside but with an eye on the longer-term move. I believe that given enough time, we should break above the $17 handle, perhaps going even higher. I think that the $15 level underneath is the absolute “floor” in the market, and therefore by picking up several ounces of gold at a time, and building up a large position, you can profit quite well over the longer term. I think that short-term traders will continue to struggle, but I still believe that even if you are to trade to the short-term, you need to keep an eye on the upside, and be quick to take your profits in this type of environment.

SILVER Video 15.12.17