Silver Price Forecast September 28, 2017, Technical Analysis

Silver markets continue to go sideways overall, as we continue to move around due to the geopolitical headwinds around the world. Ultimately, I think that the market should continue to be slightly negative though, but given enough time I think that we will find support near the $16.50 level, perhaps even the $16 level. Alternately, if we did break above the $17 level, the market should continue to go much higher. The markets will continue to be very volatile, and keep in mind that the Silver markets are much thinner than the gold markets, so if we get some type of move in the precious metals sector overall, it will be much more pronounced in the silver market. I believe that the market will be very difficult and dangerous, but I think that in general the US dollar is starting to see some type of bullish pressure. And I think that the strengthening US dollar will continue to be a headwind for this market.

The Silver markets have really taken it on the chin over the last couple of days, and I think that the bearish pressure continues not only from Silver, but gold traders as the 2 tend to move in lockstep. The markets continue to be very jittery, and even though we could get headlines coming out of North Korea that has people buying precious metals, I believe that any of those rallies will be short lived. I don’t like hanging onto a trade for any real length of time, unless of course it is some type of longer-term buy-and-hold physical silver trade. I do not like buying leveraged positions, and believe that the market will be far too dangerous to have a lot of leverage on any position. Buying physical silver ounces would be a different story, because of course the lack of danger, and the ability to hang onto that Silver for years.

SILVER Video 28.9.17