Silver Price Forecast – Silver markets remain choppy
Silver markets bounced back somewhat at the beginning of the session, but gave up those gains as we continued to climb around the $ 24 region. The $ 24 region has offered assistance more than once, so I think you need to pay close attention to that. If we drop below the $ 24 mark, it is possible that this market will move towards the $ 23 mark. On the other hand, if we were to break above the USD 25,000 level, it is likely that we could look towards the USD 26 level.
SILVER Video 10/29/21
Everything was the same, silver looks like it’s trying to build enough momentum to break out, but we don’t have it yet. I think the fact that we are stuck between the 200-day EMA and the 50-day EMA suggests that we have a lot of noise and a lot of contradicting dynamics in this area. Because of this, it is very unlikely that the market will continue to offer any sort of clarity in the short term, but at some point we will break out of that range and allow for some bigger move. Because of this, I think that at some point we will see a trade to hold onto, but right now it seems like we are just looking for some kind of direction. Pay close attention to the US Dollar Index as it will obviously have a large negative impact on silver as it recovers, or a large positive impact on silver as well. If all things are the same, this is a market that I believe is showing potential movement.