Silver Price Forecast – Silver Markets Get Hit

Silver Markets Technical Analysis

Silver markets have broken through the $20.00 level, an area that has a lot of psychological importance to it. That being said, there is a hammer from 2 weeks ago that if we break down below, the market is likely to drop down to the $19.00 level. The $19.00 level is the scene of a gap in the market that has yet to be filled. That might be where we are heading before it’s all said and done.

The market dropping down to that level will almost certainly be due to something in the bond market or the US dollar. The bond markets have seen rising interest rates, and that of course works against the value of metals in general. If gold is falling, then silver falls right along with it, something else that we have seen happen during the day.

On the upside, if the market was to break above the $21 level, then it’s possible that we could go looking to the $22 level after that. The overall trend is still negative, and it is worth noting that the 50-Day EMA has caused quite a bit of noise as well, so keep in mind that it would take a significant amount of effort to get through all of this rally above that $21 level.

At this point, I think the only thing you can count on is a lot of noisy behavior, and volatility to say the least. The noise will continue to be something that you have to pay close attention to, so therefore you need to fight the potential losses with position sizing and money management. Under the best of circumstances, silver tends to be very volatile.

Silver Price Forecast Video for 18.08.22

For a look at all of today’s economic events, check out our economic calendar.