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Silver forecast for the week of August 17, 2015, Technical Analysis

Christopher Lewis
silverWEEK

The silver markets as you can see rose initially during the course of the week but gave back quite a bit of the gains in order to form a less than impressive rally. We believe that there is a significant amount of resistance near the $16 level, and as a result sooner or later this market will sell back off. We have no interest in going long, and are simply waiting for resistive candles in order to start selling yet again as the summer markets are most certainly still in a very negative trend.

 

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