Silver Price Forecast August 16, 2017, Technical Analysis

The Silver markets broke down significantly during the day on Tuesday, slicing through the $17 level. The market continues to see quite a bit of volatility, and I think that as the situation between the United States and North Korea calm down, the drive for safety will put negativity into the precious metals markets overall. The $16.50 level underneath should continue to be support though, and I think that it may take a couple of attempts to break down through it. I think that the $17 level above will continue to be resistive, and any rally between here and there that show signs of exhaustion could be a nice opportunity to start shorting the silver market yet again.

SILVER Video 16.8.17