Technical analysis of silver markets
Silver pulled a gap higher to kick off the trading week, then shot even higher than that, before turning around and forming a less than impressive candlestick. If we were to break below the low of the candlestick for Monday’s session, then I think we have a chance to drop. Ultimately, the $20 level above should continue to be a huge hurdle to break through, so I think at this point it’s more likely than not to be a “fade the rally” type situation. “.
Keep in mind that silver has a large industrial demand part of the equation, and so if the global economy slows down, it will have a negative effect on silver itself. Ultimately, the US dollar and interest rates from America have a huge negative correlation with the silver market, so pay close attention to those markets as well.
It’s probably worth noting that the 50-Day EMA continues to get a lot of attention as we continue to see a lot of interest in this indicator. Ultimately, I think this market could very well fall and turn towards the $18 level, it might take a bit of effort to get there. I think we continue to see a lot of volatility regardless, and that’s not helping a market like silver. If we were to break below the $18 level the bottom could fall, we could see this market fall quite significantly as the next major support level and longer term charts are down at the $15 level .
Silver Price Prediction Video for 25.10.22
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