Silver Price Forecasts – Silver markets continue to trend towards resistance

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Silver markets initially dipped to kick off Friday’s trading session, but turned to show signs of life again. Ultimately this is a market that I believe will find a way to go higher with sufficient time. I like the idea of ​​buying short term withdrawals, providing a bit of value for traders looking to go long. If we can get past the $ 20 level, then it is very likely that we will find reasons to go to the $ 30 level, if only for one simple reason.

SILVER Video 31.08.20

I have no interest in selling the silver short, frankly it is way too strong and now it looks like the market will see the $ 26 level as a potential “bottom” in the market. Ultimately, I think this market is heading towards the $ 30 level, and beyond. The Federal Reserve said during the week that the bar for raising interest rates is much higher than previously thought, and so I think it makes perfect sense that we see this market continue. to rise, eventually exceeding the $ 30 level. much higher, maybe as high as the $ 50 level in the long run.

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