Silver Price Analysis December 2020: is Silver Price About to Rebound?

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Here is our silver price analysis for December 2020. Traders remain hopeful about the silver price, as the white metal remains stable above the $22.00 level. Namely, the silver chart today is demonstrating movement within $22.58 and $22.68. That is after the silver analysis reflected a drop to September lows just yesterday (Monday) before immediately bouncing off the $21.89 support.

So as the silver price analysis would have it, Monday’s dragonfly doji turned out to be a bullish candlestick. And that gives investors hopes that the silver price in 2020 still has room to rise. In fact, the nearest price target for silver in December 2020 would be $23.00.

However, there’s strong resistance forming in the $23.40 area in the silver price forecast. And in the event that the bulls can break above that silver price, December may take on the high we saw in mid-November around $25.10.

Then again, the opposite may also come true, with the round $22 mark in the silver chart analysis being quite attractive to sellers. And given the recent drop below that level, there’s the possibility they may push the price down again and aim for the September’s low near $21.65.

Watch the full video for all the latest silver price news and our take on how the silver price today could change in the weeks and months ahead.

Give us a thumbs up if you liked our silver technical analysis, and leave us a comment down below with your thoughts on the current market situation. And to be notified about our next silver price analysis in December 2020, be sure to subscribe to the Capital.com channel and hit the bell button before you go!


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