Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Silver Weekly Price Forecast - Silver Markets Continue To Find Buyers Underneath

Silver markets have pulled back again during the week but closed lower than we had seen over the last month or so. That being said, it’s obvious to me that there are buyers underneath, and most certainly closer to the $17.00 level as the 200 day EMA is there, and the 50 week EMA is starting to come within a whisper of that level also. All things being equal, this is a market that continues to see a lot of volatility and that makes quite a bit of sense considering that while silver is a precious metal, it is also an industrial metal.

SILVER Video 10.02.20

That being said, I think that the market will eventually go to the upside and I do like buying dips. However, I recognize that the market may lag gold as industrial demand for silver is probably going to be a bit weaker. To the upside I believe that the market will try to break back above the $18.00 level and then go looking towards the $18.50 level on its way to the $19.00 level. I like buying dips, and I like adding to a core position. I believe that longer-term silver is likely to find plenty of buyers, but I don’t advocate jumping in this market with huge position, because silver does tend to be extraordinarily volatile. Furthermore, you have the ability to add to a core position over the longer term, looking at the move of the next several years and has been setting up for positivity. I have no interest in selling at this point.

Please let us know what you think in the comments below

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
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.
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.