Silver forecast for the week of August 10, 2015, Technical Analysis

Silver markets initially fell during the course of the sessions for the week, but as you can see we bounced enough to form a bit of a hammer. Because of this we could break above $15, and head to $16. But it is not until we break above $15 that we would be willing to buy. With this, we believe that volatility will probably continue, and short-term traders will probably continue to sell. With this time of year, you have to look for micro-movements, so we believe short-term charts will be used more than not.