Silver Price Forecast – Silver Continues to Go Higher

Silver Price Forecast Video for 04.01.23

Silver Markets Technical Analysis

Silver markets have rallied significantly during the trading session on Tuesday, as we continue to see plenty of upward momentum. At this point, it looks like an ascending triangle is being broken, so I think it’s very likely that silver will try to go to the $25 level. The $25 level is a large, round, psychologically significant figure, and an area where we have seen a lot of resistance in the past. Because of this, I think it will take a bit of effort to finally get above there, but we will have to wait and see what happens once we get there.

On the other hand, we could pull back, and that pullback could very well have the market looking to the $23.50 level, where we had seen quite a bit of support. Anything below there then opens up the possibility of a move down to the $23 level. Keep in mind that the 5550-Day EMA is at $22.33 level and rising, so it does suggest that it would be the bottom of the overall uptrend.

However, as you can see, the market looks likely to continue to see a lot of choppy and noisy behavior, so therefore it’s likely that we will be very noisy in general. However, once we get past the jobs number on Friday, we may get a little bit more in the way of momentum that can be followed.

Ultimately, this is a situation where the market is certainly very mature when it comes to the uptrend but looks as if we still have momentum in general to show signs that we are ready to continue. However, I prefer to buy on dips as it gives us value.

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