Silver Price Forecast February 16, 2018, Technical Analysis

Silver markets continue to be very noisy, and a significant pullback during the trading session on Thursday should not be much of a surprise. However, volume is starting to pick up and we have bounced. Because of this, I think buyers have come in and started to pick up a bit of value. Longer-term, I believe that the market should continue to be noisy, but I think that overall the buyers will be attracted to it. The $17 level above will be resistance, but I think eventually we will break out above there. Once we do, we will go looking towards the $17.25 level.

Underneath, I look at the $16.50 level as support, and I think that there will be plenty of buying pressure if we do drift to that level. At this point, I suspect that the US dollars going to continue to suffer, and that of course should put bullish pressure on the Silver markets themselves. I like buying and holding silver, so therefore I like the idea of doing it without leverage, or with the least amount of leverage possible. You can do that in the CFD markets, and most certainly do it with physical silver. Futures markets are very dangerous, unless of course you have the right sized trading account to deal with them. Ultimately, I think silver will break towards $20, but it just going to take some time to get there, perhaps even years. In the meantime, I like buying short-term dips.

SILVER Video 16.02.18