Yahoo News Silver Price Forecast – Silver Markets Show Signs of Stability
Silver markets look very likely to find a bit of stability at the $24 level, and I do think that this is an important area. Whether or not we can hang on to the $24 level will be crucial, because quite frankly if we can, then we can keep going higher over the longer term. If we do not, then it is likely that we will continue to see more negativity, perhaps pushing silver down towards the 200 day EMA which is just above the psychologically and structurally important $20 level. At this point, I do think that it is only a matter of time before we would find buyers in that general vicinity, due to the fact that central banks around the world continue to flood the markets with liquidity.
SILVER Video 23.09.20
Having said that, there is a certain amount of concern when it comes to industrial demand, so that might make silver lag a bit going forward. If you are looking to play the “anti-US dollar” trade, then you will probably do better in gold, at least initially. Silver does tend to lag a bit, but once it takes off it really gets moving. Remember that the contract for silver is quite a bit smaller than gold, so you need to keep that in mind as well. This means that it can be influenced quite drastically and in short order if you are not careful. Nonetheless, if you keep a reasonable position size, you should be able to find a nice opportunity on either it dips or break back above the 50 day EMA.
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This article was originally posted on FX Empire
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