Silver Price Forecast – Silver Markets Remain Volatile

Silver markets fell initially during the trading session on Tuesday but found enough support at the $15.00 level to turn things around and show signs of life. Ultimately, this is a market that is overly sensitive to the risk appetite around the world, which seems to be failing during the US session. Furthermore, there is a lot of concern out there when it comes to the industrial demand, which is probably not going to be as strong as it had been in the past, due to the fact that the economy is simply sitting still. Furthermore, one has to wonder whether or not it will pick up the way it had been going previously estimates a lockdown is over.

SILVER Video 29.04.20

The $15 level is obviously a technically important handle that should be paid attention to, and therefore it is likely that the fact that we have bounced from there will more than likely catch a lot of attention. I do believe that the market probably continues to grind between the $14.50 level and the 50 day EMA which is closer to the $15.60 level. Ultimately, this is a market that is going to continue to see a lot of questions about where to go next. Nonetheless, there is a certain amount of concern when it comes to central banks blowing up balance sheets and of course pumping liquidity into the marketplace. There is a certain amount of the precious metals argument to be dealt with as well.