Silver Price Forecast March 28, 2018, Technical Analysis

Silver markets tried to rally during the trading session on Tuesday but broke down significantly towards the $16.50 level. I believe at this point, the market looks likely to continue to find buyers though, and eventually it will be time to start picking up silver in little bits and pieces again. I like the idea of buying silver for the longer-term as you know, but I also recognize that it is a very volatile market and it is probably best to trade this market with as little leverage as possible. Because of this, the CFD market might be the best way to trade the market, just as buying physical silver will be. I believe that the $16 level below is the beginning of massive support that extends down to at least the $15 level, so I think that the only way you can trade this market is to the upside.

If we can break above the $17 level, the market is likely to continue to go to the $17.50 level, perhaps even the $18.50 level. If we can break above there finally, then we should go to the $20 handle. I like this market, but I think that the average trader will have to be very cautious, and what the deal with a lot of noise. There is a lot of choppiness overall, but clearly every time we fall it seems as if there are plenty of buyers willing to step in and take advantage of cheap pricing. I have no interest in shorting silver as I believe the US dollar will continue to fall.

SILVER Video 28.03.18