Silver Price Forecast – Silver Gets Crushed

Silver Markets Technical Analysis

After the explosive move over the last couple of sessions, it should not be a huge surprise to see silver falling on Wednesday. We reached up to the 200-Day EMA and then fell. Ultimately, the market will be paying close attention to the $20 level, and if that gets broken to the downside, is very likely that silver will go crashing back down to the 50-Day EMA, and then eventually to the $18 level.

I recognize that the trendline has been broken, but the great thing about trendlines is that you can always redraw them later, and correct them. What I am saying in a tongue-in-cheek manner is that trendlines are somewhat subjective, so they only serve somewhat of a purpose. I could draw another trendline on the chart and make it look like we are respecting that as well. In the end, it’s just one of many tools that you be using to analyze markets.

The most important thing that you will be paying attention to is the US dollar and the interest rate markets. If interest rates and the US dollar are both rising, then it’s very negative for silver. Keep in mind that silver also is an industrial metal, so a lot of what people will be paying attention to is whether or not we can continue to see some type of economic growth. Yes, I know that silver is considered to be a precious metal as well, but it has taken on the shape of an industrial metal over the last couple of years due to green technology and a whole host of other things.

Silver Price Forecast Video for 06.10.22

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