Silver Price Forecast – Silver Markets Gap Lower

Silver Markets Technical Analysis

Silver markets have went back and forth during the trading session on Wednesday as we are sitting just above the $19 level. It’s likely that we will continue to see that area offers little bit of support, but if we were to break down below it, it opens up the possibility of a move down to the $18 level. The $18 level underneath is a major support level, and an area that people have paid close attention to. The $18 level will continue to attract certain amount of support, but if we were to break down below it, it’s possible that we could really start to break down and go toward the $15 level.

On rallies, I suspect that the $20 level will end up being a bit of a difficult barrier to overcome, but if we were to somehow break above it, then it opens up the possibility of a move to the 200-Day EMA which is closer to the $21.25 level. It’s worth noting that the 200-Day EMA is going to continue to be difficult to break above, but if we do then it opens up the possibility of a move to the $22 level. Anything above the $22 level is a trend change from what I can see, and therefore I think it’s a situation where we could go much higher, perhaps more of a “buy-and-hold” type of situation.

If we get that, then the US dollar will have fallen rather hard, and interest rates have fallen as well. However, with the PPI numbers coming out twice as hot as expected, and then the Thursday session be in the CPI announcement, it’s likely that we could see even more volatility.

Silver Price Forecast Video for 13.10.22

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