Silver Price Forecast – Silver Markets Have a Wild Ride

Silver Markets Technical Analysis

Silver has fallen initially during the trading session on Thursday, but turned around after the ECB raise interest rates, putting downward pressure on the US dollar in general. Ultimately, this is a market that continues to see a lot of noisy behavior, and therefore I think it’s probably only a matter of time before we see sellers come back into the market and push this commodity lower. That being said, there are a lot of reasons to think that silver should fall beyond the US dollar as well.

The demand for silver should continue to suffer at the hands of the lack of demand.  At this point, I think it’s a “fade the rally” type of market, and it is probably only a matter of time before we see sellers coming back into the picture. The $20 level above should be a significant amount of resistance, and at this point, it’s probably only a matter of time before we fall apart.

Even if we break above the $20 level, it’s likely that we will see sellers coming into the market, then of course the 50 Day EMA. The 50 Day EMA sits at the $20.73 level and is dropping. Ultimately, this is a market that I think at the first signs of exhaustion there will be plenty of people getting involved. If we break down below the bottom of the hammer, then it’s likely that the bottom falls out and we sliced through the $15 level.

Silver Price Forecast Video for 22.07.22

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