Silver Price Forecast January 15, 2018, Technical Analysis

Silver markets continue to be very choppy, as we broke out to the upside and above the $17 level on Friday, only to turn around and test that level for support again. We then turned around and exploded to the upside, as the US dollar continues to suffer. · FX Empire

Christopher Lewis

Updated Fri, Jan 12, 2018, 6:40 PM

Silver markets continue to be very noisy, but with the softening US dollar, it makes sense that the Silver markets rally. Precious metals in general continue to attract a lot of money, and gold of course broke out also. That gives us an opportunity to take advantage of both markets, with silver of course being a bit more volatile. At this point, it looks likely that we will break above the $17.25 level, and if we do it’s likely that we will then go to the $17.50 level next. Futures markets will continue to see a lot of volatility, so perhaps the trading the CFD markets might be a bit safer. However, if you have the ability to trade larger positions, futures markets may make a lot of sense, with the $17 level offering massive support.

I think that adding on short-term dips probably continues to be the best way going forward, and with the US dollar are looking very likely to continue to fall, it makes sense that the precious metals markets benefit from this. I recognize that the longer-term barrier at $18.50 is going to be a massive target as well, so with that being the case I believe that longer-term traders will continue to push to the upside. On pullbacks, I look at it as an opportunity to take advantage of what we already know: the US dollar is in significant trouble. Expect volatility, but keep an eye on opportunities to pick up value.