Silver Price Forecast – Silver markets fall during Thursday session

Silver markets have fallen during the trading session on Thursday, showing signs of weakness. However, we are still within a rising wedge, which extends down to about $14.60 currently. If we were to break down through that level, silver could fall rather hard. However, if we turn around and break above the $15.00 level, it’s likely that the Silver markets will take off to the upside. In the meantime, this is a market that will continue to be very choppy and noisy, which is typical for this market anyway. After all, the precious metals markets are highly sensitive to risk appetite, and with all of the US/China trade headlines coming out as in the next couple of days, silver will be very difficult.

SILVER Video 10.05.19

That being said, if we break down below the $14.60 level, then the $14.50 level will be targeted, followed by the $14.25 level and then eventually the $14.00 level. On the other side of that equation, if we break above the $15.00 level, it will be a slow grind higher. Technically, the falling wedge signifies that we should go to the $16.00 level if we make that move, but obviously that would take a lot of work to accomplish. In fact, that would be more of a longer-term trade than anything else. Quite frankly, silver falls much quicker than it rises most of the time, much like the stock market. Expect volatility, and pay attention to those couple of levels.

Please let us know what you think in the comments below