Silver Price Prediction – Silver Markets Shoot Straight Through The Air



Technical analysis of silver markets

Silver jumped into the air in Friday’s trading session after the job count was released. At this point, we’re threatening the 200-day EMA, and I think that’s a bit of a stretch. We’re at the top of a relatively well-defined range, so it might be worth paying close attention to what’s happening right now, as it’s more likely that it’s not just a matter of time before we run out of momentum. . If so, it is likely that we will see this market move back towards the $20.00 level.

If we break out, then the $22 level would be the next major area of ​​resistance and could be a decent target. Breaking above them opens up the possibility of a much higher move, but I don’t see that happening very easily. The size of the candlestick is impressive, and as I record this we’re up over 6% for the day, but that’s the type of loud behavior that silver is known for, so I wouldn’t be don’t get too excited because the market will continue to see these types of explosive moves from time to time.

The $18 level continues to be an important support level that a lot of people will be paying close attention to, so if we were to drop below it’s possible we could see the silver market go down to the $15 level. . I’m still worried about industrial demand, so I’m not quite convinced by this decision yet. However, as we break above the $22 level, there is not much between there and hitting a massive move higher.

Silver Price Prediction Video for 07.11.22

For an overview of all of today’s economic events, check out our economic calendar.

Source link


Comments are closed.