FXEMPIRE
All

Silver Price Forecast – Silver markets struggle at 50 EMA

Silver markets continue to respect the 50 EMA, as it looks like we are starting to run out of momentum. Because of this, I believe that the $15 level will continue to be a major resistance barrier.
Christopher Lewis
Silver daily chart, October 26, 2018

Silver markets have calm down a bit after rallying significantly from the $14 level, and it now looks as if we are probably going to see a bit of sideways action in the short term as the EMA is flattening. If we can break above the $15 level, then the market could go to the $15.50 level, but I think it’s going to take a bit of US dollar weakness, something that we don’t see a lot of these days, especially considering that the EUR/USD pair continues to make fresh, new lows. Ultimately, this is a market that is consolidating between the $14 level on the bottom and the $15 level on the top. If that’s the case, then $14.50 ends up being “fair value.”

At this point, I think you are essentially going to be trading between those three areas, so “choke up on the bat” so to speak, meaning that you need to trade shorter time frames. I would anticipate support at the $14.50 level, at least for a short-term bounce. However, if we break down below that level then we probably go looking towards the $14 level again which should be massive support. Longer-term, I still like this market but I recognize that there are far too many moving pieces out there to be comfortable holding something as volatile as silver with high leverage. I like buying physical silver, something that I’ve been doing for months. If we were to break down below the $14 level, there’s an even more supportive level at the $12 from a longer-term historical perspective.

SILVER Video 26.10.18

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
IMPORTANT DISCLAIMERS
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.
RISK DISCLAIMER
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.
FOLLOW US