Silver Price Forecast – Silver Continues to See Same Ceiling

Silver continues to see a lot of upward pressure, but it doesn’t seem likely that the market is ready to continue going higher without some serious effort, as the $32.35 - $32.50 area has been very difficult to overcome at this time.

In this article:* Silver

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Silver Markets Technical Analysis

The silver market continues to threaten the same barrier, which starts at the $32.35 level, and then reaches the $32.50 level before it is all said and done. Because of that, the market, I believe, is just simply grinding away or even pecking away, if you will, at the barrier that has been one of the biggest factors here in the silver market.

Short-term pullbacks, more likely than not, will continue to be bought into, and it’s probably worth noting that the 50-day EMA is currently sitting right around the $31 level. If we can break above the $32.50 level, it opens up a big move for silver, perhaps all the way to $35 before it’s all said and done. This was the most recent swing high, and a target for many traders out there.

I don’t think that market participants have a lot of appetite for shorting silver, although I’m the first to admit that I think silver lags gold a bit, but that might be because of some of the confusion when it comes to potential tariffs and the impact it might have on industrial demand for silver. In general, this is a market that I like, but it plays second fiddle to gold in my portfolio as it typically does.

Keep in mind the position sizing is crucial in silver as the contract’s much bigger and certainly much more careful. Short-term dips should continue to be buying opportunities in this market, if you are patient and careful with your position sizing.

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