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Silver Price Forecast – Silver Markets Continue Slow Grind

Christopher Lewis

Silver markets continue to be very unimpressive, as we continue to trade near the $16.60 level. More importantly, the 200-day EMA is in the same neighborhood, and it is a major technical analysis indicated that a lot of traders will be following. It is offering dynamic support at the moment, but quite frankly the recent price action for silver hasn’t been exactly impressive. All things being equal is very likely that we continue to see more of a sideways grind as silver is caught between the 200-day EMA on the bottom and the 50-day EMA on the top. Beyond that, we also have concerns about Global growth, and of course the trade war. Precious metals seem to be moving right along with the most recent headlines with the trade war, so pay attention to whether it’s “risk on” or “risk off.”

SILVER Video 11.12.19

Silver gets a bit of a boost every time we get more negative news, as it is considered to be a safety commodity at times. However, it is also an industrial metal, so that has a major influence on what happens as well. It is because of this that silver is caught between many crosswinds simultaneously, and that will continue to be a major issue. That being said, the markets are very difficult to navigate right now, especially when you consider that the next headline could send the market in one direction or the other. Silver is traditionally very volatile, so these moves can be quite drastic. With that in mind I am cautiously optimistic for the longer-term, but I also recognize that leverage right now is probably one of the most dangerous aspects to trading

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This article was originally posted on FX Empire

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