Silver Price Forecasts – Silver markets continue to advance


Silver markets initially fell during Friday’s trading session, but then turned to show signs of strength again. In doing so, it suggests that we’ll continue to drift higher, and it’s probably worth noting that we’ve essentially formed a double dip near the $ 21.50 level. For this reason, the question now is whether the trend will remain intact or not? If that double bottom means anything, we could very easily find money at $ 25 in the longer term. Obviously, this will not happen overnight, but it is something to consider.

SILVER Video 12/27/21

On the downside I think there’s a lot of support below so I don’t necessarily want to sell the silver anytime soon as it’s been so resilient lately. For this reason, I pay close attention to the US dollar and of course I keep this negative correlation in mind with this market if I were to place a trade. The 50 day EMA is currently at the $ 23.16 level, and I think your next goal is all else equal.

Keep in mind that next week will be very thin so I wouldn’t be too pushy, but you can certainly see the reasoning for having a little long position in silver right now. I certainly have no interest in bypassing that, at least not until something drastically changes in his behavior, which, looking at the longer-term chart, just means to me that he’s gone. acts more or less of a range between $ 21.50 and $ 25.

For an overview of all of today’s economic events, check out our economic calendar.

Source link


Comments are closed.