Silver Price Forecast March 1, 2018, Technical Analysis

Silver markets have bounced a bit during the trading session on Wednesday, reaching towards the $16.50 level. If we can break above there, the market should then go to the $16.60 level above, perhaps even as high as $16.75 after that. Every time we pull back, I think that there are people out there willing to take advantage of value, especially if the US dollar starts to fall off. Ultimately, I think at this point it’s likely that we go to the $17.00 handle eventually, but it’s going to be very noisy between here and there. Silver is a market that I like to buy for a longer-term trend, as short-term trading tends to be very difficult to do.

I think that the market is very tight due to the rising US dollar as interest rates continue to climb, but at the same time I also recognize that the US dollar has been struggling longer-term, and of course there’s a lot of uncertainty. Remember, Silver is a precious metal that can take advantage of risk adversity around the world, and I think that these markets will continue to go back and forth because of these competing factors. If we were to break down below the $16 level, then we have even more support at the $15 level. Quite frankly, although it’s not to be an easy trade to take, I believe a “buy-and-hold” strategy for longer-term gains are likely, if you can be patient enough to take advantage of the upcoming move.

SILVER Video 01.03.18