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Technical analysis of silver markets
Silver markets showed a lot of negativity during Friday’s session as we continue to see the US Dollar working against the value of the metal. Industrial demand is going to continue to be a major issue, so I would be very hesitant to put a lot of money into silver at this time. Lack of industrial demand is going to be a problem, so I think it’s only a matter of time before we see silver continue to decline. In the short term, we might get a small bounce, but that bounce will most likely result in a selling opportunity. The $20 level being broken lower is a very negative turn of events, and I think this leads to even more new selling opportunities.
It’s not until we break through the $22.50 level that silver starts to look strong, which I wouldn’t hold my breath for. Because of this, the market is more likely to rebound and then sell again. I think the silver will head towards the $18 level, maybe the $16 level. The Federal Reserve continues to tighten, and of course, it’s like kryptonite for money, so I’m not looking for any type of meaningful rally that lasts long. Silver, along with many other commodities, will continue to see heavy selling pressures and waves of problems in the future. Fading rallies will continue to be the best way to trade this market from what I can see.
Silver Price Prediction Video for 04.07.22
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