Silver Price Forecast – Silver Markets Struggle At Major Indicator

Silver markets rallied initially during the trading session on Tuesday to test the 50 day EMA which is currently at the $17.17 level. At this point, the market is starting to run out of momentum so it would make sense to see some selling come back in. We are at the top of what looks to be a range that is forming, and therefore it’s not a huge stretch of the imagination to think that we would sell off and go looking towards the 200 day EMA again. Ultimately, this is a market that continues to see a lot of volatility due to all of the nonsense involving the US/China trade situation, and therefore it makes sense that we just simply return to the norm.

SILVER Video 18.12.19

Silver markets of course are very sensitive to the risk on/risk off attitude of the markets, so keep that in mind. At this point, there seems to be a bit of a lack of trust when it comes to what’s going to happen with the US/China trade deal, even though there has been at least some signs of positivity recently. With that being the case it’s likely that this market will continue to be very choppy and sideways, as there is just a general lack of trust overall.

I believe that this point simple back-and-forth scalping is probably as good as the silver market will get, as there is so much noise out there that it’s almost impossible to discern where you should be putting money in markets that are as erratic as silver.

Please let us know what you think in the comments below