Silver Price Forecast November 15, 2017, Technical Analysis

Silver markets fell initially during the trading session on Tuesday, reaching down towards the $16.80 level. We bounce from there to break above the $17 level as well, and I think at this point we are going to continue to bounce back and forth between the $17 handle as it is essentially “fair value.” I think that this market should continue to be very choppy, as Silver is typical volatile. I believe that the market should continue to be difficult to deal with, and it comes down to you being able to go back and forth rather rapidly, so it’s more of a scalper stock market. However, if you are a longer-term investor, buying physical silver might be the best way to go. Given enough time, I believe that we will go higher, but we could be talking months, if not years. Overall, this is a market that is going to continue to be one that is best played in small positions if you are playing any type of leverage market.

I believe that the CFD market is probably the best opportunity for trading right now, because you can trade in small bits and pieces, and go back and forth repeatedly without too much in the way of trouble. If you have a large enough account, you can do the same thing in the futures market obviously, but it becomes much more expensive, and by extension much more dangerous. Overall, I think that Silver will continue to be range bound, but violent. The Silver markets are much more sensitive to the US dollar than gold, so a lot of times they will lead the way for both precious metals markets. If the US dollar starts to rally, that should send this market back around and falling, but if the US dollar continues to weaken, we could to rally and eventually break out. If we do, I move above the $17.50 level sends the silver market looking for $18.

SILVER Video 15.11.17