Silver Price Forecast June 30, 2017, Technical Analysis

Silver markets fell significantly at the open on Thursday, but then fell down to the $16.60 level. The area has a significant amount of support, extending down to the $16.50 level. The market looks likely to try to start picking up from here, and ultimately the market should then goes to the $17 handle above. This is a market that continues to be very choppy due to geopolitical issues, as well as political issues. The US dollar continues to be thrown around the Forex market, and that of course puts a bit of a natural bid into the Silver markets. I still believe that the $16.50 level underneath is going to be massively supportive though, so I would expect some type of rally. I think that we will continue to bounce around below the $16.50 level and the $17 level above. The choppiness will more than likely cause quite a bit of trouble when it comes to trading Silver, so I believe that the market should be one that you should play with less leverage.

Ultimately if we break out

Ultimately, if we break out above the $17 level, the market should then go to the $17.50 level. The market continues to be one that I think you “buy on the dips”, but being levered is going to be dangerous with this type of volatility. I believe in buying physical silver, as well as the SLV ETF. If you have the ability to buy silver through the CFD markets, that could be an alternative as well, I think the theme here is that Silver will be bullish, but will also be dangerous. Ultimately, the market continues to be difficult, so I believe that we should continue to be careful, but bullish in the end.

SILVER Video 30.6.17