Silver Forecast November 4, 2015, Technical Analysis

Silver markets initially fell during the day on Tuesday, but found enough support near the $15.25 level to turn things back around and form a bit of a hammer. With this being the case, if we can break above the $15.50 level, the market should then reach towards the $16.00 level. Ultimately, we think there is enough support below to keep this market afloat, and we have no interest whatsoever until we break down below the $15.00 level. With that in mind, we are bullish but also recognize that it’s going to be short-term trading that will lead the way.