Silver Price Forecast – Silver Markets Rally To End The Week

Silver markets rallied a bit in the week, breaking above the top of the hammer from the Thursday session, looking at the market bouncing from the 50 day EMA as a strong sign.
Christopher Lewis
Silver Price Forecast - Silver Markets Rally To End The Week

Silver markets rallied a bit during the trading session on Friday, breaking above the top of the hammer from the Thursday session, breaking above the $18.00 level as well. At this point, it looks as if silver is trying to continue going higher, reaching towards the $19.00 level. At this point, the market looks as if it is ready to continue to grind to the upside, and that the 50 day EMA should offer plenty of support. If we can break above the $19.00 level, it’s very likely that the market will then go looking towards the $20.00 level.

SILVER Video 27.01.20

Central banks around the world continue to liquefy the markets and keep their monetary policy very cheap and lose, so with that being the case it’s likely that the value hunters will come back in every time it pulls back and eventually, we should continue to go much higher. I have no interest in shorting silver, at least not until we break down below the 200 day EMA, which is currently sitting just below the $17.00 level. Breaking down below there is a longer-term sell signal, but at this point it appears to me that the momentum has certainly shifting to the upside again, and therefore it’s likely that the overall attitude of this market should continue to see value hunting going forward and that’s how I am approaching it. I believe that buying short-term dips and building a larger core position makes quite a bit of sense. Choppiness continues to be the flavor to this market, but I do believe that we will have reasons to expect precious metals in general to climb.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.