Silver Price Forecast – Silver Markets Stage Recovery

Silver Markets Technical Analysis

Silver markets have fallen hard to kick off the trading session on Thursday to reach down to the $21 level. The $21 level is an area that has been important a couple of times so that being the case I think it’s only a matter of time before we see volatility come back into this market. The $22 level above is an area of resistance, and therefore you need to pay close attention that if we do bounce.

The 50 Day EMA is at the $22.39 level and dropping. This suggests that there should be a certain amount of the dynamic resistance above that comes into the picture. I think that any balance will be sold into, because quite frankly there are a lot of concerns about industrial demand, and the US dollar strengthening. Both of these work against silver from a longer-term standpoint, although inflation does tend to help it. In that scenario, it’s likely that the one thing that we can count on is going to be a lot of choppy behavior, but quite frankly that does not make silver any different than any other market.

Breaking through the $21 level to the downside opens up a move down to the $20.50 level, possibly even the $20 level. Breaking through the $20 level would be extraordinarily negative for silver, opening up the $18 level as a target. If we were to rally and break through the 50 Day EMA, then it’s possible that we could see an attempt to get to the $23 level, but I think it would take quite a bit of effort to make that happen.

Silver Price Forecast Video for 24.06.22

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