Silver Price Prediction – Silver Markets Abandon Early Gains

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Silver markets initially rose in Tuesday’s trading session, but gave up their gains to show signs of reluctance. In doing so, the market seems very likely to continue to see loud behavior, as silver is a relatively small market to begin with. The fact that it’s Christmas week is definitely not going to be a favorable one either, so ultimately I think this is a situation you need to be very careful with, but clearly the money doesn’t seem still ready to take off.

SILVER Video 12.22.21

If we can get past the top of the candlestick then there is a possibility that silver will turn to the 50 day EMA, but ultimately the market will be reluctant to pull that out. On the downside, the $ 22 level is strong support, but it was sliced ​​recently so we can get down to the $ 21.50 level. If we break down there then it all falls apart, but I don’t see that happening. I think what Tuesday’s price action says more than anything else is that we’re just entering a very quiet time of the year, so with that I wouldn’t be too excited in a way or in the other.

I would keep my position size relatively small, as the lack of liquidity could cause a big move suddenly, and therefore you can see a lot of damage done to your account. That being the case, caution is the best part of courage this time of year, and so whatever I do next will be with a small stance.

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


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