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Silver forecast for the week of October 10, 2016, Technical Analysis

By:
Christopher Lewis
Published: Oct 8, 2016, 04:00 UTC

Silver markets fell during the course of the week, breaking below the $18 handle. This of course is a relatively bearish sign, but I still think that

Silver weekly chart,October 10, 2016

Silver markets fell during the course of the week, breaking below the $18 handle. This of course is a relatively bearish sign, but I still think that there’s plenty of support below. Longer-term, I believe that silver will rise because of the low interest rate environment that we will have in the United States. Given enough time, I believe that the market will attempt to get back to the $20 handle. With this, longer-term I am no interest in selling silver, I think we are just simply going to find value below.

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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