Silver Price Forecast March 23, 2018, Technical Analysis

Silver markets broke down during the trading session on Thursday, reaching down towards the $16.40 level. That’s an area where we have a little bit of a cluster, and that should offer support. I believe that if we break down below the $16.35 level, the market probably then drops to the $16.25 level. However, I don’t have any interest in shorting Silver and I believe that these dips will continue to offer buying opportunities for those who are short-term inclined. Longer-term, I believe that Silver will go much higher, especially considering if we have a major geopolitical shakeup as the tariffs are being discussed.

SILVER Video 23.03.18

Currently, I see the $16 level as a massive “floor” in the market, and I believe that if we can stay above there, Silver is a great long-term investment. It does mean that we are going to take off tomorrow, but I have been holding physical silver for some time and adding as I get extra capital. Short-term traders will continue to look at these small pullbacks as opportunities to go long, but I would keep my leverage as low as possible, because Silver markets do tend to be very erratic at times, especially when it comes to geopolitical tensions. There seem to be plenty of those out there right now, so Silver markets could behave rather strangely at times. All things being equal though, I still think that we are going to go looking towards the $17 level over the next several weeks.