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Silver forecast for the week of July 18, 2016, Technical Analysis

By:
Christopher Lewis
Published: Jul 16, 2016, 05:23 UTC

Silver markets went back and forth during the course of the week, hanging around the $20 level overall. This neutral candle suggests that perhaps we will

Silver weekly chart, July 18, 2016

Silver markets went back and forth during the course of the week, hanging around the $20 level overall. This neutral candle suggests that perhaps we will have to pull back and build up a bit of momentum in order to continue going higher. I think at this point in time, the $18 level should be the “floor” in this market, and as a result I think from a longer-term perspective, you cannot short this market at all. Regardless though, you should think that volatility will be a constant companion.

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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