this week silver price forecast

By | August 29, 2015

Last week silver did not gone above its previous week high of 15.50$ and it retraced from 15.40$ till 14$ a 140 pips slide with full power of sellers , major red candle occured on charts and indicated sell only , however it recovered from 60 pips from its last week and gave a close above 14.50$ but last week’s low would act as major hurdle for silver once market break 13.90$ and close below this level then expect another fresh round of selling upto 13.20$ – 12.40$

If silver price click resistance at 15.50$ and close above our weekly silver resistance then only some respite for buyers upto 16.40$ – 17.80$ expecting this week

Silver weekly forecast conclusion : Silver trend has turned negative for now and major fresh buy should be avoided till its not positive , Watch weekly levels and observe a close then only fresh buying should be initiated

More will update in daily gold silver update

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