Silver Price Forecast November 7

Silver markets continue to go back and forth over the longer-term, with the $15 level above being significant resistance. Ultimately, this is a market that is going to struggle with the $15 level but if we can get above there, then I think silver could start to take off again. The last couple of days have been rather negative, but we also have had a very bullish candle stick just four days ago. You see what I’m doing here? I’m telling you just how erratic this market is.

SILVER Video 07.11.18

I think that trading back and forth between the $14 in the $15 level is probably the best you can do at the moment, but I do believe in silver longer-term. I would look to pick up silver in a physical sense, not necessarily in a highly levered sense. If we pull back toward support in dollars level and show signs of support, then I could potentially look for a short-term bounce and take advantage of leverage. If we break down below the $14 level, then I think the market goes down to the $13 level and eventually $12 after that. A lot of this is going to come down to the US dollar, but at this point it is a little bit mixed up as we have no sense of certainty on several fronts right now. If the US dollar strengthens, then we will fall, just as if it sells off, then I think silver will probably pick up. Expect volatility regardless of what happens next.