Silver Price Forecast – Silver markets rally to 50 EMA

Silver markets have rallied a bit during the trading session on Wednesday, reaching towards the 50 day EMA. That’s an area that of course will offer a bit of psychological resistance, but the area has been a bit of “fair value” looking at the market. The $15 level above would be massive resistance, so if we can break above there that would be a very bullish sign. Overall though, I think that the biggest thing to pay attention to is the uptrend line that has been broken on the twenty-year chart. Because of this, I think we will continue to see selling pressure on signs of exhaustion. I believe that the signs of exhaustion will continue to jump into this market, so I’m looking to short silver for the short term, but longer-term I do think that it makes for a good investment. If you’re going to invest though, you obviously don’t use a lot of leverage and might even be better off buying physical silver.

SILVER Video 22.11.18

If we break down below the $14 level, then we could go to the $13 level underneath and then possibly the $12 level after that. That’s a level that’s even more supportive, and it suggests that it could be a nice buying opportunity. I think at this point it’s only a matter of time before the sellers come back in, but at the same time I could say that we will eventually get a nice longer-term buying opportunity.