Advertisement
Advertisement

Silver Forecast January 20, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 20, 2017, 02:26 UTC

The Silver markets broke down below the $17 level during the session on Thursday, reaching towards the 16.75 level underneath. I believe we will continue

Silver daily chart, January 20, 2016

The Silver markets broke down below the $17 level during the session on Thursday, reaching towards the 16.75 level underneath. I believe we will continue to go lower, perhaps reaching towards the 16.50 level underneath. I believe that if we can break down below the 16.50 level, we should continue to reach towards the $16 level. I’m not interested in going long yet, because the US dollar is of course so much stronger currently that it has been in the past. Silver will continue to be very volatile, but eventually I believe that the sellers come out on top.

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.

Did you find this article useful?

Advertisement