Silver Price Forecast – Silver Markets Break 50 Day EMASilver markets rallied just a bit on Friday to break above the 50 day EMA, which is a bullish sign. But we are in the middle of the consolidation range.
Silver markets rose bit during the day on Friday, breaking above the 50 day EMA early. Having said that, the market is likely to go back and forth in this overall range, but it appears that we have more of an upward tilt than anything else, and of course I do believe in the longer-term efficacy of the silver markets, due to the fact that we have massive amounts of global liquidity measures coming about. That of course has the central banks around the world flooding the markets with fiat currency, so that does of course help the idea of precious metals rallying.
SILVER Video 16.11.20
Do not get me wrong, I do not think that you jump in and start buying hand over fist right now, but I also recognize that we have a longer-term cyclical trade to the upside. If you can be cautious, you can make quite a bit of real estate in this market to the upside. The $22.75 level should be supportive, just as the 200 day EMA will be. Ultimately, this is a market that I think will continue to be a “buy on the dips” type of scenario, so that is how I am approaching it.
75% of retail CFD investors lose money
I have no interest in shorting silver nor do I have any interest in shorting gold. Both should eventually go higher, and therefore it is likely that we will see value hunters come into the market and take advantage of any dip along the way. Because of this, I do not feel like you need to jump in and start buying hand over fist.
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