Silver Price Forecast February 27, 2018, Technical Analysis

Silver markets rallied significantly after gapping lower on Monday morning, reaching towards the $16.75 level. We found resistance in that area and pulled back towards the $16.50 level. I believe that we will eventually find buyers in this market, looking to pick up even more value. I believe that the Silver markets continue to be bullish overall, but I also recognize that there is a lot of noise in the market, so I think that the market pulling back like this occasionally will be typical, and I would also recognize that it offers value. I think that the markets will eventually go looking towards the $17 level above, which of course is a large, round, psychologically significant level, and of course a structurally resistive barrier. However, I believe that longer-term the US dollar will probably continue to fall, and therefore I think that Silver will be a beneficiary of that movement.

The easiest way to trade Silver is to stay away from leverage, because the leverage can cause issues. If you can buy silver in its physical form, or perhaps even CFD markets, so you can keep your risk lower. I think that this is a longer-term investment more than anything else, so that keeps short-term traders at bay. I believe that the longer-term target of $20 is still a very viable target, but it’s going to take a while to get there. Remember, Silver play 2^nd fiddle to gold, so pay attention to the gold markets as these markets tend to move in the same direction.

SILVER Video 27.02.18