Silver Price Prediction – Silver Markets Take Off

0

Silver markets initially fell during Wednesday’s trading session, hitting the $26 level before exploding higher and above the $27 level at the start of trading in New York. Ultimately, this market seems to find enough buying pressure to reverse the situation and turn towards the $28 level. This is an area that I think will be a good target, and will eventually be broken higher, perhaps opening up the idea of ​​the market reaching the $30 level.

SILVER Video 27.08.20

I like the idea of ​​buying short term pullbacks to give you the opportunity to take advantage of “cheap money” as we are most definitely in a market that views this drop as a potential buying opportunity , because there is a lot of demand for durable assets. Silver has recently exploded into thin air and now seems to be trying to figure out where we are going next as we have digested a large chunk of the gains. That being the case, I like the idea of ​​buying this dip and still adding more.

If we can eventually break above $30, we can go much higher. On the downside, I think there is a lot of support from the $26 level, down to the $25 level. I have no interest in trying to be too cute with this I believe it’s a market that still has a ways to go due to the Federal Reserve and of course Jerome Powell giving a speech on Thursday that could drive this market up.

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


Source link

Share.

Comments are closed.