Silver Weekly Price Forecast – Silver Markets Break Significant Round Figure

Silver markets have rallied significantly during the course of the week, showing a huge jump in pricing. Now that we are above the $25 level, it is very likely that silver will continue to see plenty of interest, as clearing the psychological barrier is a big win for the bullish traders out there. Ultimately, I do think that silver probably goes looking towards the $20.50 level, especially considering that the daily chart has been forming an inverse head and shoulders for some time. The measured move is for that type of velocity and real estate to be covered, so at this point I remain very bullish of silver.

SILVER Video 15.11.21

The one thing the need to be very cautious about is the fact that silver is very volatile, so you need to keep in mind that silver markets should be played with small positions, or at least low leverage. It is because of this that I approach silver from a multi-market point of view, buying the ETF SLV, physical silver, and CFD trading. Silver can be a great way to add alpha to your portfolio, but it also can be very destructive if you get on the wrong side of the trade.

Longer-term, I do think that silver continues to shine, because of the industrial need for the metal. Furthermore, it is highly prized in the green initiative, as many of the components that make up green energy demand so much in the way of silver. With this being the case, I do suspect that silver has a big run ahead of it for quite some time, but it will occasionally have drastic and nasty pullbacks.

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