Silver Price Prediction – Silver Markets Hanging Around $18

Technical analysis of silver markets

Silver markets were boisterous in Wednesday’s trading session as we continue to hold onto the $18 level. The $18 level is of course an area that has been prominent on several occasions and is a large, round and psychologically significant number. For this reason, I look at this through the prism of an opportunity. And every time we get our act together, I think we’ll most likely see some sellers come into the picture and try to get the silver back to the $18 level.

It should be noted that $18 has been significant on the long-term charts, and if we can get a clean break below, then it is possible that the market will find a reason to break down significantly, perhaps reaching the $15 level. . After that, I would start looking towards the $12 level, which is a longer term support level.

On the other hand, if we were to significantly break above the 50-day EMA, then you can start thinking about moving to the $20 level. Breaking through the $20 level would be a very bullish sign and could send traders back to this market. We would need to see the US dollar blow out a bit, which I just don’t see happening right now. In this case, it is more likely than not that I am looking to smooth out rallies as they occur. The market will continue to be very noisy so you need to be careful with your position size.

Silver Price Prediction Video for 08.09.22

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