Silver Price Forecast – Silver markets choppy to open the week

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Updated: Jun 26, 2018, 05:10 UTC

Silver markets initially tried to break above the $16.50 level, but then fell during the trading session on Monday. Ultimately, we continue to see a lot of sideways action, when I think that silver continues to be more of an investment and less of a trade for many of us out here. However, if you are short-term base, then you could find plenty of reason to get involved in the futures market for example.

Silver markets went back and forth during the trading session on Monday, reaching towards the $16.50 level above, and then pulling back to the $16.30 level. I think that the market continues to go sideways in general, and I think that it is only a matter time before we break above the $16.60 level and continue to go towards the $17 level. However, if we were to break down below the $16.20 level underneath, the market could go down to the $16.00 level next.

Expect a lot of noise, but that’s typical. I think that the market has a couple of different outlooks here. I believe that longer-term will continue to favor more of a “buy-and-hold” mentality. Because of this, if you are a longer-term trader, and other words in investor, you should do as I do – buy physical silver. However, if you are looking for a shorter-term trade, then you should employ a reasonable range bound system, using the $16.50 level above as a significant resistance barrier that extends to the $16.60 level, and the $16.20 level underneath is the base. Going back and forth with some type of indicator like a stochastic oscillator could be a good way to play this market and the futures market, or perhaps even the CFD market.

SILVER Video 26.06.18

About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.