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Silver Trend Forecast 2019 Update

Commodities / Gold & Silver 2019 Nov 02, 2019 - 05:13 PM GMT

By: Nadeem_Walayat

Commodities

The Silver price soared during August as it played catch up to the Gold bull run, Silver peaking at a high of $ 19.75 early September before like Gold entering into a correction to a low of $16.94 late September and trending weakly higher during October to currently stand at $18.07, a 2 month trend similar to that of the gold price.


(Charts courtesy of stockcharts.com)

First a recap of my recent Silver forecasts.

My analysis of 11th June concluded in updated expectations for 2019 Silver Investing Trend Analysis and Price Forecast 2019 for a bull run to at least $18.50 from $14.74 at the time.

Silver Price Trend Forecast Conclusion

Therefore my forecast conclusion is for the Silver price to continue to trade in a volatile trading range with an upward bias towards a target of $18.50 later in 2019 as it steps higher into each successive trading range i.e. $15.25 to $16.25, then $16.25 to $17.30, then $17.30 to $18.50, which would represent a 25% gain on it's current price of $14.74. Whilst a spike to at $35+ remains a longer term objective.

Remember Silver is for Long-term INVESTING rather than to try and trade because it is a volatile messy market in terms of TA. Where the key accumulation zone for the past 5 years has been $14 to $15 which is where we find the Silver price currently trading.

The bottom line is that I see Silver as a coiled spring because in historic terms it is very undervalued against Gold and so I expect that spring to eventually propel Silver into an overbought state against Gold even though we are likely several years away from when that happens.

Whilst my last update of late July Silver Investing Trend Analysis and Price Forecasts 2019 Update expected a volatile bull run to continue along with the Gold price for Silver to at least target $19 and then $21 from $16.56. With the subsequent $19.75 high placing Silver mid-way between my 2 targets of $19 and $21 for 2019.

Silver Price Trend Forecast

The Silver price continues to target my 2 primary resistance targets for 2019 of $19 and $21. Once we reach and break those levels then we will know what to expect beyond $21. With the following graph illustrating the expected central trend trajectory for the Silver price, baring in mind it is a volatile commodity.

Silver Investing Strategy

Firstly, my long standing approach to Silver has been one of buying (accumulating) when the Silver price is cheap to invest to capitalise on long-term Spikes, as the silver price tends to be quite erratic in behaviour, prone to a lot of false signals so Silver can be a difficult market to trade i.e. tends to run stops and sharp movements contrary to the likes of Gold, just as we have experienced during Summer 2019, with the bulk of the silver moves taking place towards the end of precious metals bull markets as illustrated by my analysis of May 2018 -

Silver Forecast 2018 and Beyond, Investing for the $35+ Price Spike!

In terms of a Silver market position then as is currently the case the silver market can usually be expected to be a dead market with the tendency to flat line not just for many months but even years as it tends to play second fiddle to Gold in terms of tradable swings, usually only really coming alive towards the latter stages of precious metal bull markets.

My long-term target for a Silver price spike to $35+ remains.

The rest of this analysis that concludes in a detailed trend forecast into the end of 2019 has first been made available to Patrons who support my work. Silver Trend Forecast 2019 Update - Nov to Dec 2019

  • Recent Silver Forecasts
  • Silver Investing Strategy
  • Gold Price Forecast Conclusion - Nov - Dec 2019
  • Gold Silver Ratio
  • Trend Analysis
  • Elliott Waves
  • Silver Price Trend Forecast

So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

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By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2019 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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