Silver Price Forecast – Silver markets continue to grind higher

Silver markets have rallied right along with the gold market during the trading session on Tuesday, as we reach towards the vital $16 level. This is a market that could cause a bit of resistance, but I think silver will take its cues from gold. Gold markets have been breaking out already, clearing the vital $1300 level. Beyond that, we have the Federal Reserve looking very likely to be soft on interest rates, and that could continue to sink the US dollar in general. At this point, the silver market has lagged behind gold, but I do think that eventually we go to the $17 level above. We recently have seen an explosive break out to the upside, and I think at this point silver is probably a market that you want to buy every time it pulls back.

SILVER Video 30.01.19

Longer-term, I believe that the market is probably going to go to the $17 level, an area that is massive resistance. I do think that we get there sometime over the next several months, and if Jerome Powell or the FOMC specifically states that they are going to hold on interest rates, that will be the last piece to fall in the puzzle, and Silverwood of course continue to go much higher. After the bullish candle stick on Friday, I think we do have the likelihood to find plenty of support near the 20 day EMA, pictured in green on the chart.