Silver Price Forecast – Silver Markets Continue To Be Quiet

Silver markets went back and forth during the trading session on Monday in rather lackluster trading to kick off the week. Because of this, it looks as if the market is at the very least trying to stabilize, as the $17.00 level has offered significant support.
Christopher Lewis
Silver daily chart, October 15, 2019

Silver markets have done very little during the trading session on Monday as traders came back to work, and we presently trade just above the 50 day EMA. This is a market that of course is going to be a bit flat as we hang around this area. The 50 day EMA does in fact tend to offer a lot of directionality, as it is both support and resistance. That being the case, it’s likely that we will continue to see a lot of noise around this market, especially as risk appetite is all over the place. As risk appetite continues to fail, that of course is good for precious metals as it might be a way to get away from the dangers of fiat currency and of course stocks.

SILVER Video 15.10.19

Looking at the chart, the $17.00 level is obvious support, and I think it will continue to be crucial as far as where the market is going to go next. As long as we can stay above the $70.00 level I feel that the market can continue to find buyers on these dips. Alternately, if the market were to show signs of bullish pressure, especially if we can break above the $18.00 level, I would be more than willing to start buying at that point. I do believe in the longer-term uptrend but obviously we have taken a bit of a beating as of late. Ultimately, this is a “buy on the dips” type of market longer-term but obviously it has struggled as of late.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.