Silver Weekly Price Forecast – Silver markets show signs of support for the week
Silver markets have been choppy over the last couple of days, forming a hammer for the week. This is the first signs of support that we’ve seen for a minute, so it’s possible that we are starting to form some type of bottoming pattern. If that’s the case, I anticipate that this market will probably continue to see a lot of noise and chopped, but for those who are longer-term inclined, you will probably see an opportunity to pick up silver “on the cheap.” This allows for value hunting, and for those who are longer-term players that aren’t over levered, this would be a return to normalcy as we have seen a lot of buying pressure in this area.
The market has seen this before, and I think that a lot of people are willing to jump in and pick up silver at these levels. The market continues the pattern that we have seen for some time, and I think if we can wipe out the candle stick from the previous week, that would be a very bullish sign, perhaps sending silver to the $17 level rather quickly. Longer-term, I do think that we are in an area where investors are getting involved, and I have not hesitated to buy physical silver in this general vicinity. At this point, shorting isn’t a possibility as far as I’m concerned.
SILVER Video 27.08.18
This article was originally posted on FX Empire