Silver Weekly Price Forecast – Silver Markets Go Back and Forth

Silver markets went back and forth during the course of the week, reaching towards the $15.50 level, but then pulled back towards the $14.50 level. At this point, the market is likely to see a lot of back-and-forth type of problems, and at this point the $15.00 level is basically a fulcrum for price. We have seen a significant move back and forth, but at this point I think that the silver market is paying attention to the precious metals aspect of the market, but at this point in time I also think that the industrial demand is a major factor.

SILVER Video 27.04.20

The silver market will struggle with the idea of whether or not there is going to be enough industrial demand. After all, the economy has been shut down completely, and therefore it is difficult to imagine a scenario where there would be a lot of demand for silver. However, with central banks around the world throwing money at everything that moves, you have to worry about whether or not fiat currencies will suffer. Over the longer term, I do believe in the efficacy of owning silver, but I use extraordinarily little in the way of leverage. In the meantime, I believe it is only a matter of time before we try to make a significant move. We are in a tight range, and at this point it is likely that we need to pay attention to whether or not we can break one side of this weekly candlestick or another to place a trade.