Silver Price Forecast -Silver Markets Bounce From 50 Day EMA

January 23, 2021

New York (Jan 23)  Silver markets have plunged below the 50 day EMA during the trading session on Friday to show signs of weakness, but we have turned around to continue the overall push to the upside from the recent bounce. When you look at the candlestick, it does make a little bit of a hammer, but given enough time I think what we are struggling with is the $26 level. If we can break above, there then it is likely that silver will continue much higher. Keep in mind that silver is highly sensitive to the value of the US dollar, and the overall idea of stimulus. Stimulus is a main driver of expectations when it comes to interest rates, which by default will drive down the value of currency over the longer term.


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