Silver Price Forecast – Silver markets find support at major figure

Silver markets have formed a bit of support at the $14 level, an area that has been significant support in the past. At this point, the 50 day EMA has offered resistance previously, and it now looks as if it is turning lower. So I think that if we bounce from here it’s likely that we would have a certain amount of resistance at that point, and an exhaustive candle could be an opportunity could be reason enough to start selling again. If we do break down below the bottom of the candle stick for the trading session on Tuesday, then I think we go down to the $13 level, and then eventually the $12 level after that which is even more supportive on longer-term charts.

SILVER Video 14.11.18

With the US dollar strength, I find it it’s almost impossible to buy levered metals at this point, silver being especially true as it is extraordinarily volatile, and of course expensive. If we can break above the $15 level that would change a lot of things, but at this point it’s likely that the sellers will continue to punish Silver as the Silver markets have lagged Gold for some time and of course the US dollar continues to be very strong. Overall though, I believe that the longer-term outlook for silver is very good, but I believe at this point we are looking to buy physical silver more than anything else, as the leverage can kill you if you don’t take great care. Physical silver for a longer-term retirement situation makes a lot of sense.