Silver Price Forecast – Silver Continues to Pressure Upside

Silver Markets Technical Analysis

The silver market initially pulled back just a bit against the US dollar after the non-farm payroll announcement came out. But as you can see, we have turned around to show signs of life again. This suggests that we could break out to the upside given enough time, but I also recognize that there is a lot of noise all the way up to the $33 level.

The daily close on the chart for Friday will be very important to pay attention to, because it’s one thing to impulsively jump into an asset, but it’s a completely different set of circumstances to buy that asset and simply hang on to it through the weekend. So, I think this is something that we need to pay attention to.