Silver Weekly Price Forecast – Silver Markets Have Rough Week

Silver markets have fallen during the course of the week, reaching down towards the $25 level. The $25 level of course is a large, round, psychologically significant figure, and an area where we have seen quite a bit of interest in the past. At this juncture, we have to see whether or not the market is going to turn things around and continue to go higher. If we do, it could end up forming a bit of an ascending triangle, which of course would be very bullish.

SILVER Video 29.03.21

The candlestick of course is somewhat negative, but we also have to keep in mind that it is not going to be very long before we would see demand for silver as there are massive stimulus packages around the world, as well as infrastructure bills. If that is going to be the case, demand for silver will pick up and it should continue to go higher. However, the markets will continue to be very noisy due to the fact that the US dollar has been very strong. The US dollar strengthening does work against the value of silver in general, but it also comes down to whether or not there is going to be strengthen the United States.

As things stand right now, it is a very choppy market, but at this point time it is still technically bullish, but it will also be very noisy in general. With that in mind, it is imperative that you are somewhat cautious and do not put a ton of money into this market right away. I believe that the market is going to continue to be very erratic.

For a look at all of today’s economic events, check out our economic calendar.