Silver Price Forecast – Silver Markets Choppy to Start Off Week

Silver markets have gapped a little bit lower to kick off the trading session on Monday, showing signs of exhaustion. At this point in time, the market had gotten a bit ahead of itself, and now we are starting to see money flow back to the US dollar. If that is going to be the case, then it makes a lot of sense that silver could get hit. The $22 level underneath continues to be important, but we have dipped a below there recently, so the efficacy of that support might be somewhat diminished.

SILVER Video 21.12.21

Breaking down below that level opens up the possibility of retesting the $21.50 level and breaking down below that will open up a trapdoor to much lower pricing. In that move, I would expect the market to go down to the $20 level, which of course is a large, round, psychologically significant figure that a lot of people will pay close attention to. If that gives way, look out below.

On the other hand, if we turn around and break above the $22.75 level, then it is likely that we could go looking towards the 50 day EMA which is just above the $23 level. That being said, breaking above that could kick this thing off into a bullish run, but I currently just do not see the momentum in this market to make that happen. More likely than not, we will simply dance around the $22 level between now and the end of the year due to a lack of liquidity.

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