Silver Price Forecast – Silver markets strong for Tuesday session.

Silver markets rallied rather stringently during the trading session on Tuesday, breaking above the psychologically important $14.50 level. Whether it can hold it or not might be a completely different question, but at this point it certainly looks as if silver is ready to start breaking out for a bigger move. · FX Empire

Christopher Lewis

Updated Tue, Sep 25, 2018, 10:49 PM

Silver markets have been historically cheap for quite some time, and I think at this point were starting to see some of the bigger money come in and buy it out. However, there’s obviously always going to be concerned about the sellers return, as they have been so aggressive over the last several months. I believe that the $14 level has held its own as a major “floor” in the market, but I also recognize that the $14.50 level has brought in a lot of selling in the past. It’s because of this that I think we should be a bit cautious yet optimistic at this point for the price of silver. Ultimately, this is a marketplace that is very volatile, so if you are bullish of silver for the longer-term, you may wish to pick it up in its physical form.

If you are a short term trader, then you need to be aware of the importance of the $14.50 level, and below there at the $14.40 level. If we do break down below the $14.40 level, we will more than likely make a round trip down to the $14.20 handle again. Otherwise, we could be looking at a move towards the $15 level over the next several weeks as it is the next major resistance barrier on the longer-term charts. Keep in mind that this market will continue to be very volatile overall, so keep your position size small.