Silver Price Forecast – Silver markets continue to be very noisy during Tuesday trading

Silver markets continue to be very noisy, as the Tuesday session was more of the same. I believe there is a massive longer-term support level between $15.50 and $15, so it makes sense that we would continue to bounce. At this point, I think if we broke down below the $15 level, then the market could break down a bit more significantly. However, every time we have tried to break down below the $15 level, the buyers have come back into push this market to the upside. I believe in buying silver for the longer-term “buy-and-hold” investment, so I prefer to buy silver in its physical form these days. However, CFD markets also offer the opportunity to scale into your position as opposed to jumping into a futures contract, which of course can be extraordinarily volatile and expensive.

I have no interest in shorting, I’m looking for value in this market going forward, and I believe that we should get plenty of opportunities. Short-term CFD trading might be the best way to deal with this market, picking up value every time we pull back. Pay attention to the central banks this week, that of course will have a lot to do with how precious metals behave. If we did break down, I think the next major battle is at the $15 level, where I would anticipate seeing a lot of demand for the Silver markets. If we break out to the upside, clear the $15.65 level, then the market probably goes to the $15.85 level next.

SILVER Video 01.08.18