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Silver Forecast for the week of August 21, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Aug 19, 2017, 05:03 UTC

Silver markets initially fell during the week but found enough bullish pressure by the end of it to form a hammer near the $17 level. If we can break

Silver weekly chart, August 21, 2017

Silver markets initially fell during the week but found enough bullish pressure by the end of it to form a hammer near the $17 level. If we can break above the top of the candle, I think that the market will probably test the $17.50 level, and then eventually the $18 level. I think that the $16.50 level underneath should be massively supportive. If we break down below there, then the market probably tests the $16 level underneath, and then eventually the $15 level. Overall, I think this will be a very volatile market, and therefore difficult to trade. I would advise using very little leverage.

SILVER Video 21.8.17

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.

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