According to leading analysts around the globe silver price will rise across 2019.
Second part of 2019 ( June +) can represent a turning point for silver investment. In addition, silver industrial demand is also expected to continue growing for the fifth consecutive year.
In 2018. The average price was $15.70 which is $1 above the current price.
The spectacular net positions, which show us positions for speculative trade on the US futures market have the following values with actual -22.4K and previous -14.7K.
Traders use the data to help them decide whether or not to take a long or short position.
What can push silver price?
While a US recession is not on the horizon yet, a slowdown of global GDP growth has to be expected in 2019. On top of that we have trade war, Trump`s tariffs on Mexico, China and who knows what he will do with Europe by the end of the year? Bare in mind - Brexit and EU political problems.
There is also one wildcard- Interest rates.
From TA point of view price have strong up momentum with braking up resistance line ( Red). RSI is on break or make level ( 50), and current price is on Fibo 61.8 level, also known as golden level.
Next important step to cross is MA200 (+0.80% from current price).
If price continue with this up movement and all resistance levels are overwhelming we should see future increasing in price.
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