Silver Price Forecast January 29, 2018, Technical Analysis

Silver markets were very noisy during the trading session on Friday, dipping a bit, but looking to find buyers later in the day. I think that the market may try to reach the $17.50 level first, and then reach towards the highs again. The US dollar has been sold off rather drastically for some time, and the reality is that precious metals should continue to benefit. I believe that Silver will be a bit more volatile than gold as per usual, but I think that the likelihood of the market making an easy move is slim. If you are patient enough, you should realize strong gains in this market, perhaps giving you an opportunity to take advantage of the “buy-and-hold” attitude of most Silver traders.

However, if we break down below the $17 level, I think we will have to reset and go looking towards the $16.75 level for support. Either way, I don’t have any interest in shorting this market, and I recognize that if the US Dollar Index continues to be negative, that should continue to fuel these precious metals markets. If we break above the $17.75 level, the market should then go to the $18 level, and then eventually the $18.50 level. I believe that the volatility should continue, but with an overall positive slant so I believe that if you can keep your leverage low, or perhaps even buy physical silver, it could make a great investment.

SILVER Video 29.01.18