Silver Price Forecast February 19, 2018, Technical Analysis

Silver markets fell during the trading session on Friday, reaching down towards the $16.70 level, an area that has offered a little bit of noise in the past, but I think longer-term silver is going to be consolidating for the long term. Eventually, I expect a longer-term move to the upside, but this is a market that’s going to be slow to move. · FX Empire

Christopher Lewis

Updated Fri, Feb 16, 2018, 11:33 PM

Silver markets continue to accumulate and churn in the overall consolidated region that we have been in for some time. I think that Silver is difficult to trade for anything between a short scalp, or some type of longer-term investment. Because of this, I think that short-term trading opportunities can present themselves, if you are a leveraged trader. I would not look for major moves, at least not in the near term. As you can see, I have the stochastic oscillator on the chart, and then tells me when it’s overbought or oversold, and therefore I would trade the markets as such using the same indicator.

Alternately, if you prefer longer-term moves, then you are accumulating physical silver at this point. There is an impossibility to this market from a leveraged standpoint if you are long-term focused. You simply cannot be leveraged in a market that is going sideways in a $2 range. In general, though, I think it does offer a lot of opportunities for those of you who are quick enough to take advantage of them, with a bias to the upside overall. The $16 level underneath should be massively supportive, and essentially the “floor” in the short-term trading range. Alternately, I believe that the $17.50 level is very resistive above. I think that most traits will probably involve $.20 or so in duration at best.