Silver Price Forecast – Silver markets fall during Wednesday volatility

Silver markets have drifted a bit lower during the trading session on Wednesday, as we continue to see a lot of negativity around the world. Silver markets will continue to be very difficult to deal with, as they are typically more volatile than gold, and of course the US dollar will influence where precious metals go overall. I believe that the market will continue to be very volatile, but I also see a significant amount of support underneath that could continue to pick this market up. I believe that the $15.50 level underneath is the “beginning of the floor” in the longer-term markets. Because of this, I think now that we have fallen during the session, it’s likely that we will find value hunters coming back into the marketplace.

I believe that we will then bounce towards the $16.10 level again, and perhaps the highs given enough time. However, we need the US dollar to roll over a bit, so it’s not until we see that in the Forex markets that I think silver will rally significantly. Because of this, I anticipate that we could get a bit of negativity initially, but eventually the supply of selling will be exhausted, and therefore the value hunters will come back in. I believe longer-term traders are looking at silver as an investment, so you should have a nice opportunity to go long again rather soon. If you are short-term trader, then think of this market as trading between $15.75 on the bottom, and $16 on the top.

SILVER Video 12.07.18