Silver Price Forecast August 18, 2017, Technical Analysis

Silver markets initially fell during the day on Thursday, but found a little bit of support underneath the $17 level to turn around and show signs of life again. This is a market that continues to press to the upside, and with the US dollar softening, it’s likely that we will eventually find this market reaching towards the $17.25 level. A break above there would be very bullish, sending this market towards the $17.50 handle. A break below the $16.90 level probably will see this market pulling back to the $16.75 level at that point. I think that the $16.50 level will offer a bit of a floor in this market. Currently, it looks as if the market is trying to build up enough pressure to go higher, and perhaps a breakout to the upside for a larger move.

SILVER Video 18.8.17