Silver Price Forecast March 21, 2018, Technical Analysis

Silver markets rolled over during the trading session on Tuesday, reaching down towards the $16.10 level. There is a lot of support at $16 as well, longer-term as well as short term. I think that value hunters may come back into the marketplace, but I would be cautious about throwing too much money into the markets. Even if we break below there, I think that the hard “floor” in the market is the $15 level, an area that has attracted a lot of attention in the past. At that point, I would become much more aggressive in my buying.

SILVER Video 21.03.18

I believe that eventually Silver goes looking towards the $20, but if we find out that the Federal Reserve is looking to raise interest rates 4 times this year, that could cause a surge lower, and perhaps a recalculation of the fair value of silver. Ultimately, I do like precious metals but if we get massive interest rate hikes, that will cause the US dollar to rally somewhat. This could also be influenced by the “risk on/risk off” attitude of the world, so while I like the longer-term outlook for silver, this is a market that you need to trade in small positions and perhaps even with physical silver to take advantage of any value. The next couple of sessions could be very difficult and dangerous.