Silver Price Prediction – Silver Spreads Higher To Kick Off The Trading Week

Technical analysis of silver markets

Silver markets split higher to kick off the trading week on Monday as we threaten the $19 level. That being said, there is a lot of resistance in this area, and it wouldn’t surprise me at all to see sellers jump into this market and set it lower. Even if we break above the $19 level, it is possible that the $20 level will be targeted next. After all, the market will continue to view silver with suspicion, because frankly, it is less of a precious metal and more of an industrial metal.

There’s a lot of concern about the global economy right now, and it’s not a particularly favorable environment for silver prices to rise. For this reason, I think we will continue to look for rallies where you can step in and start to fade. The 50-day EMA is now at the $21 level and falling quite rapidly, so I think this area is also another place where you might see the sellers reappear.

If we were to break below the $18 level below, it could open up further selling to go much lower. Ultimately, this is a market that I believe continues to be a “fade the rally” type situation, unless of course the Federal Reserve suddenly changes its policy stance. monetary. I just don’t see that happening anytime soon, so silver remains a very weak market from what I can see. In fact, most commodities appear to be highly endangered in general.

Silver price prediction video for 19.07.22

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Garland K. Long