Silver Price Forecast – Silver Markets Rally to Reach $19

Silver Markets Technical Analysis

Silver markets have been very noisy, to say the least during the trading session on Wednesday as we are trying to break above the $19 level. If we do clear this area, then we could get a little bit more of a rally. The $20 level would be the next obvious psychological target, and then of course you have the 50 Day EMA sitting in that same vein of resistance, which is currently up to the $20.80 level. It’s worth noting that the 50 Day EMA is falling, and therefore it is likely to continue causing dynamic resistance on the way down. With this being the case, it’s probably only a matter of time before the market pulls back again.

At this point, any signs of exhaustion will be an opportunity to fade this rally again, because quite frankly it’s a market that has a lot of noise attached to it. I think at this juncture, you have to think of fading rallies as the only way to play this market. The $18 level underneath has been significant support and is of course a large, round, psychologically significant number.

That makes it a perfect target for short-sellers when they get the opportunity to reach that level. Ultimately, if we break down below the $18 level, then we will see this market drop to $16 given enough time. Keep in mind this is a market that is highly sensitive to the US Dollar Index, so pay close attention to that as well. If the US dollar starts to take off to the upside, then it’s likely that we will see silver pay the price.

Silver Price Forecast Video for 21.07.22

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