Silver Price Forecast November 2, 2017, Technical Analysis

The Silver markets exploded to the upside during the trading session on Wednesday, breaking above the $17 level. This may be perhaps in due to the upcoming Federal Reserve meeting, perhaps people are trying to take a bit of risk off the table, as Silver markets have been sold off so drastically. Having said that, the $17 level is a bit of a fulcrum for price, and I think that we will return there every time we get a little bit too far away from it. The market continues to be very volatile, as Silver always is. I think that the market continues to be one that you must trade short-term, as there is a significant amount of volatility in the less liquid Silver markets in comparison to gold. Ultimately, this market should continue to be difficult to deal with, so if you are to trade sewer, you should do so in small increments.

I prefer to use the ETF SLV myself, but there are also options markets to deal with. The options market gives us an opportunity to play this type of volatility, but I think the futures markets are going to be all but impossible to deal with. The CFD market is also an opportunity if your country allows that, so at this point I believe that it is a short-term trading opportunity that you will probably find, and the easiest way to describe this market is that any time he gets a little too far away from the $17 level, you should expect some type of reversion to the mean, and perhaps both directions. The noise in this market should continue, but if you trade cautiously, you can protect your trading capital, and benefit from the short-term charts.

SILVER Video 02.11.17