Silver Price Forecast – Silver markets continue to drift sideways with an upward bend

Silver markets continue to go sideways overall, after breaking through a major downtrend line. Looking at this chart, I think that we are going to make a serious attempt at breaking above $15, and if we can I think the market will continue to go much higher. Short-term pullbacks should continue to be buying opportunities, and I believe that the $14 level underneath will continue to offer a very significant “hard bottom.” At this point, silver has been getting a bit due to a safety trade, and are simply following the Gold markets, albeit at a bit of a lag.

I like buying dips, but I would do so in small bits and pieces. Overall, this is a market that is undervalued and I do like the idea of silver over the longer-term. I buy physical silver quite often, and I believe that it is the best way from a longer-term perspective because we don’t have to worry about leverage. However, in the futures market I like buying dips because it is obvious that people are jumping in, and it looks as if the $14.50 level is trying to offer a bit of support at this point. Silver markets continue to be very quiet overall, but they are starting to make “higher lows.” Ultimately, it’s not until we break down below the $14 level that I would be concerned about silver, and even then I think the $12 is even more supportive if that were to happen, although I think it’s very unlikely.

SILVER Video 29.10.18