Silver Price Forecast January 5, 2018, Technical Analysis

Silver markets initially fell towards the $17 level during the trading session on Thursday, but found buyers in that area to rally significantly, towards the top of the overall consolidation. I believe that the $17.25 level above is the top of the overall attitude of the market right now, so if we were to break above there, it’s likely that we would go much higher, perhaps the $17.50 level. Today, the employment figures coming out of the United States, for the month of December. This has a massive effect on the greenback, and that of course will have an effect in the precious metals markets. I believe that the markets are eventually going to find reason enough to go higher, but today could be a bit volatile. Dips are buying opportunities, unless of course we were to break down below the $16.80 handle underneath.

I believe longer-term we are getting ready to reach towards the $18 level, which is the longer-term resistance of the longer-term consolidation area. If we can break above there, I think that the market continues to go higher, perhaps to the $20 handle over the next couple of years. I think that Silver continues to strengthen, but it will also be as volatile as ever. Small positions that are added to as the market works in your favor probably continues to be the way to trade, or perhaps using physical silver and taking leverage out of the equation.

SILVER Video 05.01.18