Silver Price Forecast – Silver markets fall but find buyers underneath

Silver markets continue to be volatile, as they initially fell during the day on Tuesday but have turned around the show signs of life near the $16.15 level. There should be plenty of interest in this market down near the $16 level, as it has been a historically important level. I think if we were to break down below the $16.00 level, then the market would unwind to the $15.50 level underneath which is even more supportive. At this point, I like buying short-term dips and I recognize that silver is an excellent longer-term investment, but for you short-term traders out there, you should look at this is more or less a range bound trading opportunity.

In general, I believe that silver will struggle with US dollar strength, but there is so much in the way of support underneath that it’s almost impossible to imagine the $15.50 level being broken with any type of significance. It is because of this that it seems there is some type of massive “put” near that area lifting the market as we have seen over the last several years. Ultimately, I think that the market will recover itself over the longer-term, but obviously is going to be very noisy. Keep your position size reasonable, unless of course you are trading the micro movements that can happen on the short time frames. If we were to break above the $16.50 level, then this market is free to go much higher.

SILVER Video 27.06.18