Weekly Silver price forecast 1st week Nov 2016

By | October 30, 2016

Weekly silver trading forecast

Silver ( xagusd ) price fired from 17.45$ till 17.90$ in last few hours of friday . This week we have a good support on weekly silver chart at 17.40$ . Once traders break this major weekly support and manage to close beneath our support this week . Then expect this precious metal prices to drop upto 16.90$ – 16.40$ today .

A good resistance on weekly silver chart stands at 18.25$ . Once traders break this major hurdle and manage to close above our resistance this week . Then expect this precious metal prices to fire upto 18.70$ – 19.30$ this week .

We have some major data this week which could effect trend of precious metal this week . Here are list of some major data this week .

Monday : US personal spending monthly , US personal income monthly .

Tuesday : China’s Manufacturing PMI , China’s non manufacturing PMI , BOJ monetary policy , UK manufacturing PMI , US ISM manufacturing PMI .

Wednesday : UK construction PMI , US ADP non farm employment change , Crude oil inventories , Fed statement .

Thursday : UK services PMI , BOE monetary policy , US unemployment claims , Prelim Non farm productivity q/q , ISM non manufacturing PMI .

Friday : US avg hourly earnings monthly , US non farm employment change , US unemployment rate .

These are major data and monetary policies .

Weekly silver forecast conclusion : Xagusd trend is positive upcoming week .

More will update in daily forecast .

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