Silver Price Forecast – Silver markets very noisy during the trading session on Friday

Silver markets continue to be very noisy but restrained within a well-defined consolidation area. The consolidation area has support formed at the $15.25 level, and resistance at the $15.50 level. I believe that the market will continue to be very noisy overall, but short-term traders can use these levels as a bit of a guide stick on how to trade the market. I believe that silver will of course be influenced by the strengthening dollar which has been keeping it a bit soft. Overall, I think that we will ultimately see a lot of choppiness, and short-term traders will love this environment.

However, longer-term I do believe in Silver and I think we will go higher. With that being the case, I believe that we will see potential investments, especially when we get close to the $15 level underneath which is massive support on the longer-term charts. That being the case, I am more than willing to take advantage of what the markets willing to offer me. Right now, it’s offering me a $0.25 trading range, but longer-term I willing to buy physical silver to take advantage of a longer-term investment “buy-and-hold” scenario. The US dollar continues the bounce around, and that of course will have its effect on precious metals overall, but I think at this point it’s likely that if you are levered, you have to be looking at short-term charts. If you are not, then you can pick up silver “on the cheap.”

SILVER Video 13.08.18