Silver Price Forecast – Silver markets rally on Friday

Silver markets rallied slightly during the trading session on Friday to wipeout most of the losses on Thursday. At this point, the market looks as if it is trying to reach towards the $15.50 level, possibly even the $60.00 level after that. Looking at this chart, I think that the $15 level will continue to be massive support, and it is an area where there should be a lot of interest, as it is finding a bit of support there.

SILVER Video 18.03.19

If we can break down below the $15 level, the market is likely going to go down to the $14.50 level, and then possibly the $14 level. Overall though, I think with the central banks around the world being so easy and loose with their monetary policy, it makes sense that we continue to see demand for precious metals in general. Look at this chart, if we can take out the $16.20 level, it’s likely that we will go much higher and reach towards much higher levels in the form of the $16.50, possibly even $17.00 level.

Looking at this chart, I think that we continue to buy dips but recognize that there will be certain amounts of volatility jumping in and out of the marketplace. If the US dollar strengthens, that tends to be a bit rough on silver, just as the US dollar falling tends to give it a bit of help. I like the idea of going long every time we drop a bit to pick up a bit of value as silver is certainly supported underneath.

Please let us know what you think in the comments below