Silver Price Forecast June 20, 2017, Technical Analysis

Silver markets fell a bit during the day on Monday, after initially going sideways. Silver of course is very sensitive to interest rate expectations of the United States, and of course geopolitical concerns. We have conflicting pressures in the markets right now, so having said that I think that the markets will continue to be very choppy but I believe that the overall attitude of silver is negative, at least for the time being. Longer-term traders may look for nice buying opportunities, but I would be very quickly to point out that low leverage or better yet, no leverage, is the best way to play the silver market if you’re looking to pick up the metal. In fact, I prefer to buy silver in physical form if it’s possible.

Selling rallies

I continue to sell rallies, as the market continues to fail. I believe that the $16 level will be the next target for the marketplace, and then perhaps even the $15 level. As far as geopolitical issues are concerned, I believe that gold will be the go to marketplace that traders use for safety, so having said that I think that the market continues to lag gold in general, and that is how I would play this market, more of a longer-term situation if you are trying to be bullish. On the other hand, shorting this market on short-term charts is the best way to make money in the meantime. I believe that the silver markets will continue to be very volatile, but that’s nothing new to anyone who has ever traded this market. If we did break above the $16.75 level, I feel that the market would probably go looking towards the $17 level next. Either way, keep your position size small.

SILVER Video 20.6.17