Silver price forecast and long term prediction

In this article we make a Silver price prediction and longterm forecast. We would like to give an assessment of the further price development of the Silver price in US-Dollar. We look at the long term charts for Silver, which are the yearly, quarterly and monthly charts with logarithmic scale. The basis of our analysis is Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from the Silver Futures traded at COMEX.

Silver Yearly Chart (12 month chart) showing the long term uptrend

Long term Chart of Silver Future
Yearly chart of Silver Future

In the yearly chart of Silver Futures prices, we see a long-term upward trend with an all-time high at $49.820 in 2011.

The correction from the alltime high to the low of 2015 at $13.620 was very close to the 50 % Fibonacci retracement at $14.145 calculated for the long uptrend from 4.015 to the alltime high.

The blue line is an 20 years moving average of the price, which is also rising and containing nicely the price action of the last five years

Important Highs and Lows

HighsLows
$49.820 – April 25, 2011$4.015 – November 21, 2001
$21.225 – July 5, 2016$13.620 – December 14, 2015
$19.750 – September 4, 2019$14.265 – May 28, 2019

Next let’s take a look on the quarterly chart.

Silver Quarterly Chart (3 month chart) showing uptrend

Quarterly Chart of Silver Future

In this quarterly chart of the Silver Futures prices we can see more details of the price movement. I have again included a 20 period moving average (blue line).

The 20 period moving average is rising and containing the price action.

Important Highs and Lows

HighsLows
$21.225 – July 5, 2016$14.265 – May 28, 2019
$19.750 – September 4, 2019$16.565 – December 9, 2019

Silver Future prices are moving in a big trading range roughly between $16.565 and $19.750.

Let us continue our review with a look at the monthly chart.

Silver Future Monthly Chart

Silver Future Monthly Chart in Uptrend
Silver Future Monthly chart in Uptrend

Starting from the correction low in November 2018 at $13.860, Silver futures price was able to regain significant ground and is moving in an defined uptrend.

The blue line of the 20-period moving average shown on the chart is also moving up..

Silver price prediction and longterm forecast February 2020

The long term uptrend in Silver Futures price is stable and next price target could be $18.895.

From a chartist perspective, the probability that this could happen is relatively high. It will then finally become clear whether Silver can develop the strength to break through to the next local high at $19,750.

What is the current price of Silver in US-Dollar ?

The current price of Silver you can see here.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.
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