Silver markets broke higher during the course of the week, and look to be forming some type of base in this general vicinity. However, we do not believe
Silver markets broke higher during the course of the week, and look to be forming some type of base in this general vicinity. However, we do not believe that this market can break out to the upside given enough time, but we do not have that yet. The $14.60 level above would have been broken in order for us to start going long. Pullbacks at this point in time will continue to see quite a bit of support near the $13.80 level, so as long as we can stay above there we have to think that eventually this longer-term trend is starting to try to reverse.
Silver forecast for the week of January 25, 2016, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
