Silver Price Forecast – Silver Continues to Grind Higher

Silver Price Forecast Video for 09.12.22

Silver Markets Technical Analysis

Silver has initially dipped a bit during the trading session on Thursday, but then turned around to show signs of life again. By doing so, the market is hanging about the $23 level, and it’s likely that we will continue to see a lot of noise in this general vicinity. Whether or not we fall to fill the gap remains to be seen, but that typically is what happens in the futures market. The 200-Day EMA is near the $21.15 level, so that could be your “floor in the market.”

The 50-Day EMA is trying to cross the 200-Day EMA to form the so-called “golden cross.” Nonetheless, this is a market that I think is going to continue to be noisy due to the fact that we have a lot of questions when it comes to interest rates, and of course we also have a lot of problems when it comes to the idea of industrial demand. With this being the case, it’s likely to see a lot of back-and-forth oscillations, but right now I think it more likely than not silver is going to try to get to the $25 level eventually.

I do think at this point in time it’s likely that we are going to see a lot of noisy chop, as we are waiting to see what the Federal Reserve is going to say next week. Because of this, you need to be very cautious due to the fact that the Federal Reserve may end up being more hawkish than people had anticipated, that will work against the value of silver, but then again, we could see the exact opposite. In other words, we are about to see a big move, but it’s probably going to be exacerbated by the announcement next week.

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