Technical analysis of silver markets
Silver markets rallied again in Monday’s trading session to show signs of life again, breaking above the $26 level quite easily. After that, we will now threaten the $26.50 level. If we can break above the $26.50 level, it is likely that we could continue to take off towards the high we recently reached. Keep in mind that silver is very volatile, so keep an eye on your position size because frankly, if you get a little too aggressive, the market could affect your account.
At this point, I expect the $25.50 level to be supported based on the previous action, and so we need to pay close attention to how things unfold in terms of appetite for the risk. This area should offer some support, but even if we break below it, the market is likely to go check the 50-day EMA, which sits at the $24.83 level. Looking at this chart, it should be noted that the highs for the day were near the $26.50 level. At this point, it looks like short-term pullbacks will continue to be buying opportunities.
The size of the candlestick is quite impressive, suggesting that there is a lot of interest in this market. That said, it should be noted that the market had very little liquidity for most of the session as many of the world’s major banks were closed. Either way, this is an extension of what we were doing before, so I still favor the uptrend.
Silver Price Prediction Video 19.04.22
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