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Silver forecast for the week of August 15, 2016, Technical Analysis

By:
Christopher Lewis
Published: Aug 13, 2016, 06:23 UTC

Silver markets and a slightly positive we, as we continue to consolidate around the $20 level. Longer-term, I still believe that the silver markets go

Silver weekly chart, August 15, 2016

Silver markets and a slightly positive we, as we continue to consolidate around the $20 level. Longer-term, I still believe that the silver markets go much higher but there is a significant barrier just above that we have to overcome. Once we do, I feel that this market can go much iron inners a “buy-and-hold” type of situation. Pullbacks at this point in time should continue to be buying opportunities as I see so much in the way of support all the way down to the $18 level at the very least.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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