Silver Price Forecast – Silver markets rally to close out the week

Silver markets rallied quite nicely during the trading session on Friday, wiping out the losses for the week. The weekly candle was a bit of a hammer, so this is a bullish sign, and I think we are going to go looking for buyers on dips now, as there has been so much strength in this market over the last 24 hours. Volume picked up as well, which of course is always a good sign in the futures market. If we can reclaim the $15.10 level, the market will then continue to go much higher, perhaps as high as $17 over the next several weeks. However, I don’t think that it’s a straight shot. Beyond that, I would not be surprised at all to see a little bit of a short-term pullback as the market finds itself pressing significant resistance as I record this.

However, I think that the currency markets dictate that we will see higher priced commodities in general, and as silver is so sensitive to the value of the greenback, it makes sense that this market will toe the line. Ultimately, I think that value hunting is what you should be doing in this market, especially if you are like me and buying physical silver for retirement accounts. There’s going to come a day that silver will retest the $50 level, and I’d like to own a lot of it when that happens. Obviously, those days are years away, but silver being as cheap as it is makes it a very attractive investment.

SILVER Video 27.08.18