Silver Price Forecast February 22, 2018, Technical Analysis

Silver markets rallied significantly during the trading session on Wednesday, gaining roughly 1% as I record this video. I think that the market will eventually try to break out to the upside, perhaps going to the $17 level above. I also recognize that the $16.40 level underneath is going to be support, and that eventually I think some type of buying pressure will come back into this market. One of the easiest ways for me to trade Silver is to buy silver rounds, in other words buying physical silver. I don’t have any interest in shorting silver, I do think that the US dollar is going to continue to roll over. In other words, I like trading without leverage. If you’ve been watching me here, you know that’s the case.

If you are trading a leveraged account when it comes to silver, then you could be looking at short-term “buy on the dips” opportunities over the next several weeks, and I think that eventually we could go towards the $18 level, but that might be later this year, perhaps the end of summer. Pay attention to the US treasury market, if it continues to sell off it’s likely that the US dollar will fall, driving sober higher. CFD markets also can work, because that way you can get in and out of the market rather quickly, and with small amounts. If we can break above the $17 level above, I think the next target will be $17.25.

SILVER Video 22.02.18