SHARPS PIXLEY : Silver Forecast 2018
SILVER : AVERAGE : $18.08 HIGH : $19.10 LOW : $15.60
If silver was a dog it would be a labrador. Quiet, obedient, submissive even ... until its not. That is to say it follows patiently behind gold on a leash ... and then outshines when things kick off.
Much loved by the speculator community, silver surprises every now and then - much like a decent fellow with one sherry too many who becomes unexpectedly garrulous, only to suddenly retrace into the shadows to nurse a hangover. If we expect gold to notch up an 8% gain then silver should score 12%. That would give it an average price of $18.08 in 2018.
Trading ranges for silver are becoming compressed with support and resistance levels rapidly converging to form a large pennant on the charts. We see support back to 2003 at $15.60 and resistance back to 2016 at $17.58 ; a break-out is coming in the next few months and we think it will be to the upside.
Unlike gold, the speculative overhang in silver is not burdensome, so there is scope for silver to outperform gold, making it our favourite performer for 2018.
Crufts here we come.
16 Jan 2018
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