Silver Price Forecast March 12, 2018, Technical Analysis

Silver markets exploded to the upside during the trading session after the jobs number came out at 313,000 for the month of February in the United States. This obviously caused a bit of a “risk on” situation, and I think that the market will continue to find buyers but given enough time I think that the volatility will probably shake a lot of you out. If you can keep your leverage low, that’s a way to handle this type of marketplace. I believe that we are at the lower end of the overall consolidation, so it makes sense that the market could probably go to the $17 level. Ultimately, this is a market that I think has a massive amount of support underneath, and essentially a “floor” at the $15 level long term.

I’ve been buying physical silver for some time on dips, because I believe that longer-term we go to the $20 level, and then eventually the $50 level during the next currency crisis. In the meantime, I think that buying the dips continues to work out, and if you are short-term trader you can probably even take advantage of it that way as well. Shorting this market is going to be very difficult, because it seems like the matter what happens the buyers seem to return. In general, I believe that Silver markets have a good future ahead of them. Adding slowly if we do get a bit of upward momentum could be a way to play this market as well.

SILVER Video 12.03.18