Silver Price Forecast – Silver Markets Bounce From $ 22
Silver markets fell quite sharply during Monday’s trading session, but found enough support at the $ 22 level to turn the tide and show signs of life again. That being said, the market is likely to continue to experience a lot of volatility in this area, due to the fact that the $ 22 level is so important in the longer term. Quite frankly, if we fall below the $ 22 level, chances are we could see some massive sell pressure jump in that market, possibly reaching the $ 20 level.
SILVER Video 09.21.21
On the upside, if we were to break above the candlestick top, chances are we could head towards the $ 23 level. This is an area that has offered support in the past, so in theory at least it should offer resistance in the future. At the end of the day, it’s a market that continues to be very loud, and you need to be very careful with the US dollar as it tends to move in a negative correlation with silver.
The market has been going down for a while, and while we rebounded a bit in Monday’s trading session, it is likely that we will see a small rebound in order to find more selling pressure. I would be a seller of signs of upward exhaustion, but I also recognize that as the US dollar suddenly sells out, it could provide a bit of “rocket fuel” to send the money much higher.
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