Silver Price Forecast March 20, 2018, Technical Analysis

As the intro text probably suggested to you, I am bullish of silver eventually. I recognize that we could get a bit of negativity though, so at this point I think it’s probably best to enter the market very casually. I suspect that $16 should continue to be very supportive, and the given enough time buyers will return to take advantage of what has been a very strong consolidation area. The Monday session has been very noisy, as there have been signs that the United Kingdom and the European Union have reached some sort of basic outline for the negotiations, and that of course puts a bit of a “risk on” attitude into the market. However, at the same time we have stock markets failing a bit, so the main winter as I look at my charts is the British pound. This doesn’t really move the silver market, and that is part of why it seems to be in more or less of a consolidation area.

SILVER Video 20.03.18

I do think that eventually the value hunters come out. I love buying silver closer to the $16 level, so if you are patient enough you should be able to get a nice value play. I’m not looking for some type of major explosion to the upside, rather a reversion to the overall mean, which seems to be somewhere near the $16.60 level. With this in mind, I am bullish, but I also recognize that patients might be needed as well.