Silver Price Forecast – Silver Markets Continue to See Negative Pressure

Silver Markets Technical Analysis

Silver markets have fallen again during trading on Thursday, after initially trying to rally. At this point, the market is likely to continue seeing plenty of negative pressure, especially as the CPI numbers in the United States came out in 0.4% instead of the anticipated 0.2% month over month. Because of this, the Federal Reserve is likely to continue causing a significant amount of pressure on silver as they have to tighten monetary policy. Furthermore, you should pay close attention to the 50-Day EMA that sits above, just below the $19.50 level as it could be a bit of a ceiling.

Breaking down below the bottom of the candlestick, then we could see silver looking at the $18 level. The $18 level is an area where there are a lot of buyers, as we have seen a lot of support in that area. If we break down below there, we could see silver plunge quite drastically. This will almost certainly coincide with higher interest rates and the US dollar spiking. If the US dollar continues to strengthen, it’s difficult to imagine a scenario where we would see silver try to recover.

In general, you also have to keep in mind that silver is an industrial metal as well, so if we are going to see a slowdown globally, then it’s very unlikely that we would see silver fall in kind. If the Federal Reserve is going to have to force a recession to bring down demand due to massive inflation, then silver is probably going to struggle for some time. I have no interest in buying, at least not until we break above the $21 level.

Silver Price Forecast Video for 14.10.22

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