Silver Price Forecast March 14, 2018, Technical Analysis

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Updated: Mar 14, 2018, 05:37 UTC

Silver markets were very noisy during trading on Tuesday, as we continue to bounce around the $16.50 level. The markets of course tend to be very risk sensitive, and with that being the case it was a bit of an interesting day as we shot straight out, fell apart, and then rallied again.

The markets are obviously very jittery during trading on Tuesday, as we reached towards the $16.65 level, pulled back significantly, and then bounced again as the $16.50 level has offered support. As you know, over the longer term I am very bullish of silver, but I also recognize that it is one of the noisiest commodity markets you can be involved in at times. It is because of this that I believe it’s almost impossible to have massive amounts of leverage in this market, so I prefer to buy either physical silver, or play the Silver markets in the CFD arena. I think that there are plenty of opportunities to pick up value on pullbacks, but I also recognize that if you are over levered, this could be a very dangerous place to be.

I still see $15 as the “floor” in the market in general, and I think that it’s only a matter of time before the buyers will come in and start picking up value if we were to get close to that area. Market participants will continue to be very skittish, but it appears that the Silver markets are starting to pick up a bit of a bid, perhaps in safety as the US stock markets have gone chaotic. Ultimately, this is a market that I think goes to the $20 level, but it may take several months to get there, so that is why I don’t like leverage.

SILVER Video 14.03.18

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About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.