Latest News

Silver Forecast: Continues to Show Volatility – 15 March 2023

Ultimately, the silver market is expected to remain choppy in the long term. Traders need to be vigilant and carefully consider their position sizes.

The silver market has shown signs of profit-taking at the potential resistance barrier of $22 level during Tuesday’s trading session. The 50-Day EMA and 200-Day EMA indicators are also being tested at this time. As a result, the market is expected to be volatile, and caution is advised.

Advertisement

Silver tends to be choppy over the long term, and if this trend continues, it is likely that the market will remain noisy in general. Therefore, traders must be vigilant and consider their position sizes carefully.

If the market breaks above the $22 level, then there is likely to be a lot of noise up to the $22.50 level. Beyond this point, silver may go up to the psychologically significant $23 level. However, with interest rate markets being unstable, it is likely to cause a lot of fluctuations in the silver market.

On the other hand, if the market breaks down below the bottom of the candlestick for Tuesday, it could drop down to the $21 or even $20 level. The future direction of the market is likely to depend on whether the Federal Reserve will tighten monetary policy.

The Federal Reserve’s recent decision to save a bank over the weekend has led many to doubt their commitment to fight inflation.This suggests that the Federal Reserve may blink sooner rather than later.This uncertainty could cause the market to remain volatile in the short term.

Ultimately, the silver market is expected to remain choppy in the long term. Traders need to be vigilant and carefully consider their position sizes. The direction of the market will depend heavily on the Federal Reserve’s decision regarding monetary policy. Given the current uncertainty, traders need to be cautious and prepared for further market volatility. The only way I know how to do this is to make sure that you keep your position size reasonable as they are almost certainly going to be pushing the market around quite violently. If that’s going to be the case, you have to be very cautious and understand that losses could come quite frequently if you are not careful in this type of environment. Ultimately, with the type of move that we have seen over the last couple of days, there is generally some sort of follow-through, but you should also keep in mind that the markets are currently fighting the Fed and it makes for a very dangerous situation.

Ready to trade our daily Forex forecast? Here’s a list of some of the best Forex brokers to check out.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:Latest News

Leave a reply

Your email address will not be published. Required fields are marked *