Silver Price Forecast – Silver Market Participants Continue to See Volatility

Silver Markets Technical Analysis

Silver markets have rallied again during the trading session on Tuesday, as we are hanging about the $18.50 level. The market continues to see a lot of noisy trading, and I think will have a lot of issues as we head into the Federal Reserve meeting. There are a lot of questions as to whether or not they hike 75 or 100 basis points, but even more importantly is going to be how the statement is perceived.

People are trying to parse the idea of whether or not the Federal Reserve is going to continue to tighten monetary policy, and of course whether or not there is going to be enough demand out there to drive up the price of silver as we are heading into a likely recession. In fact, there’s so much confusion out there, that we are still arguing as to whether or not there is a recession.

If we break down below the $18 level, silver will fall apart and go much lower. At that point, the market is likely to go looking to the $16 level, perhaps even the $12 level over the longer term. Rallies at this point will continue to look suspicious at best, and therefore I would be looking for signs of exhaustion, especially near the $19 level. After that, the $20 level would be targeted, as the 50 Day EMA is also approaching that area, and therefore I think there’s a lot of confluence in the general vicinity. Either way, the trend is most decidedly negative, so I think it is probably only a matter of time before we see a general push lower.

Silver Price Forecast Video for 27.07.22

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