weekly silver forecast 1st week february 2016

By | January 31, 2016

weekly silver forecast

Silver ( xagusd ) price almost crossed our resistance last week . But then it retraced back just like gold and could not fullfill our closing condition . This week our weekly resistance remain same at 14.55$ . Once traders manage to break this hurdle and close above our resistance . Then expect market to support buyers upto 15.10$ – 15.70$ this week .

A good weekly support on silver weekly chart at 13.60$ . Once traders manage to break this and close beneath our support . Then expect market to correct upto 12.90$ – 12.20$ this week .

This week china’s manufacturing data would have high impact on this white metal . So stay cautious and keep an eye on this . This could decide entire week’s fate of metal market .

Weekly silver forecast conclusion : Trend is positive this week but stay cautious as many major data in first week of february .

More will update in daily price forecast update .