Silver Price Forecast – Silver markets rally into Independence Day holiday

Silver markets rallied a bit during the trading session on Tuesday, bouncing hard towards the $16 level. Overall, it looks as if it’s only a matter of time before exhaustion comes back into the market, especially near the $16.10 level. At the first signs of exhaustion, I would be more than willing to start selling as the selling pressure on silver has been relentless. However, that is a short-term trade, and I believe there are much more significant forces just below.

Down near the $50.50 level, there is a longer-term “floor” in the market, that has been supporting silver for ages. I am more than willing to start buying silver in that general vicinity, as it is clearly an area where a lot of big money comes into the market, extending down to the $15 level. If we were to break down below the $15 level, that would mean that the silver market was collapsing, but quite frankly I don’t expect to see that happen anytime soon. I believe that if we can break above the $16.15 level, then you can start buying as well. That would be a short-term rally, perhaps reaching towards the $16.50 level.

I think the one thing you can probably count on is volatility but that’s the norm for silver anyway. I prefer CFD markets, unless of course it gets closer to the $15.50 level, where I would not only by CFD markets, but I would be willing to jump into the futures markets, and of course by physical silver.

SILVER Video 04.07.18