Silver Price Forecast March 27, 2018, Technical Analysis

Silver markets dipped a bit at the open on Monday but turned around and rallied towards the $16.70 level. If you can break above there, the market should continue to go towards the $17 level again. We have been grinding sideways in general, as the world worries about trade wars and potential headlines to move the markets. Silver of course will have its typical influence by the US dollar, as if it falls, Silver will typically rise. The $17 level getting broken above would be a very bullish sign, perhaps sending the market towards the $17.50 level.

The alternate scenario would be selling pressure bring in the market back towards the $16 level. I think that there are more than enough buyers under $16 to keep the market afloat, so at this point I prefer to buy short-term pullbacks as value. That value of course is something that I wish to take advantage of, and if you’ve been watching me here at FX Empire for some time, you know that I like silver longer term, but I think of it more as an investment than anything else, so I have been building up my physical collection. I think that if you are short-term trader, then you need to look at the short-term dips as value that you can take advantage of for small moves as the choppiness should continue. At this point, I don’t have any interest in shorting this market as it is so resilient just below current levels.

SILVER Video 27.03.18