Silver Price Forecast – Silver markets continue to drift lower on Thursday

Silver markets continue to look a bit soft, and Thursday ended up seeing a lot of the selling pressure but did not break down drastically. That’s a good sign, as it shows that there is still underlying support and interest in owning silver, and I think that the longer-term outlook for this market still is a “buy on the dips” type situation, but that’s an investment, not a trade. If you are a trader and not an investor, you are looking to short signs of exhaustion after short-term rallies. However, if you are an investor these pullbacks offer excellent buying opportunities as there are massive amounts of support just below.

I believe that the $15.50 level underneath is the “floor” in the market overall, and I think it is possible that large money will come back into the marketplace somewhere just above that level. We have certainly seen that happen before, so it’s likely that will happen again. I believe that keeping an investment in silver is a wise choice, but it’s a longer-term investment, something that you need to be very patient with. Again though, I think short-term traders will have an opportunity to take advantage of exhaustion on rallies, especially somewhere near the $16 level. I have no interest in buying silver as a trade, so therefore would not buy it in a leveraged market. Expect a lot of noise as we continue to worry about global trade, causing a lot of skittish trading behavior.

SILVER Video 29.06.18