Silver Price Forecast December 20, 2017, Technical Analysis

Silver markets rallied a bit during the trading session on Tuesday, but then rolled over as it looks like we are ready to continue the nauseating volatility. The market looks likely to test the $16 level today, and the question now remains whether we can stay above there. I think Silver markets are trying to build some type of base at this point, to go much higher. Ultimately, I think that the markets will go higher given enough time, but I think also that the market will be choppy. After all, this is the holiday season in liquidity will be an issue. I think that the US dollar will have its influence as per usual, but at this point I suspect that it’s probably a “buy on the dips” type of scenario. I believe that longer-term, the Silver markets are trying to build a base that we can launch from. It’s not until we break down below the $15.75 level that I would consider selling, and even then, I would be a bit hesitant as I see so much in the way of support underneath. Longer-term, I think that the market is going to reach towards the $18 level, perhaps by the end of the year. I do not expect explosive movements in the Silver markets, but I think that inflation is starting to creep into the overall markets, and that of course is typically good for precious metals.

Volatility continues to be an issue, so use small positions and build your core position up over the longer term. With this, you can make strong profits over the longer term.

SILVER Video 20.12.17