Silver Price Prediction – Silver Markets Continue to Show Volatility


Silver markets have been relatively volatile as we fell slightly during Monday’s trading session, only to turn around and again show signs of support at the $ 23 level. For this reason, the market looks set to challenge the 50-day EMA just above and the recent high at the $ 23.64 level. If we can get past this level, the market will likely test the crucial $ 24 level. This is an area where I would expect to see a lot of resistance. At the end of the day, it’s a market that I think continues to see volatility, which is somewhat normal for the money anyway as it’s a very volatile market.

SILVER Video 19.10.21

Pay close attention to the US dollar index as it also has a major influence on what goes into money. It has a major negative correlation, so as the US dollar starts to recover again, it could cause a bit of negativity in the silver market. Alternatively, if we turn around and see the US dollar crash, it might give the silver a little boost. If we can break through the $ 24 level then I think this market will probably continue to see a lot of momentum to hit the $ 25 level. Anything above the $ 25 level then becomes more of a “buy and hold” scenario, and at that point I would aim for recent highs again. On the downside, I expect the $ 23 to be supportive, and the $ 22 level will be massive support, as we’ve seen several times on the longer-term charts.

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