Silver Price Forecast – Silver Markets Continue to Be Noisy to Say the Least

Silver Markets Technical Analysis

Silver markets have done very little during the trading session on Thursday, as markets continue to show real lackluster control and dedication to any particular direction. It’s worth noting that even the stock markets were slow during the day, so I think we are waiting on the next catalyst, which to be honest I think is the Jackson Hole Symposium next week. In other words, it will involve central bankers talking, which is almost always a bad thing.

If we break down below the hammer from a couple of weeks ago, then I think that the silver market will finally go looking to fill the gap underneath at the $19.00 level. Anything below there probably opens up $18.00, where we had seen a lot of support previously. I do think that it is probably only a matter of time before we find buyers on any type of dip to that area, but we will have to wait and see.

On the other hand, if we break above the $21.00 level, it opens up a possible move to the $22.00 level long term. That would more likely than not see a softening US dollar, and perhaps even rates falling. With that being the case, I suspect that we would also see gold rise quite drastically. That being said, the metals markets in general look like they are rolling over yet again, which suggests to me that we are going to continue to see more noise than anything else for the short term. I think that fading short-term rallies might work on short-term charts, but I would not be looking for big moves at the moment.

Silver Price Forecast Video for 19.08.22

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