Silver Weekly Price Forecast – Silver markets form a neutral candle

Silver markets went back and forth during the week, ultimately forming a bit of a sideways candle. At this point, we are just above the 50 week EMA, so that’s a good sign but ultimately I think we are going to go higher anyway. With the Federal Reserve looking likely to cut interest rates going forward, it makes sense that precious metals will continue to gain and of course the US dollar fall. Beyond that, we also have a certain amount of safety when it comes to owning metals, and gold of course will lead silver going forward.

SILVER Video 01.07.19

To the downside, if we were to turn around and break down below the $15.00 level, that would be a very negative sign. I don’t see that happening but it’s always a possibility. I believe that the market is trying to find a reason to go higher it will find it soon enough. We could get negativity and fear coming out of the US/China trade talks as well, which of course resume this weekend in Osaka at the G 20. Ultimately, technically speaking and from a risk standpoint, it makes sense that the Silver markets, as well as gold markets, should continue to go higher.

All of that being said, the reality is that silver futures contracts can be quite expensive and dangerous. Because of this, you may wish to use the CFD markets if you have the ability because it will allow you to scale your position size accordingly if you do not have the proper trading capital.

Please let us know what you think in the comments below