Weekly silver forecast
Silver ( xagusd ) price did not crash like gold . It kept in small range and sustained there . Last week it was all about gold which gave heart attack to buyers . It closed in almost same range at 16.20$ . This week silver weekly chart has a good support at 15.70$ . If traders break this major support level and manage to close beneath our support his week . Then expect weakness in this major commodity upto 15.20$ – 14.60$ this upcoming week .
A good resistance on silver weekly chart stands at 16.75$ . If traders break this major hurdle and manage to close above our resistance this week . Then expect more power to buyers upto 17.30$ – 18$ this upcoming week .
Weekly silver forecast conclusion : Xagusd trend is weak for upcoming week . Avoid major buy without any stoploss .
We have major economic events this week which could effect this precious metal prices . Keep an eye on data and do not trade bulk qty . Major data list updated in gold forecast post . Please go through that events list before trading big .
More will update in daily forecast update . Daily support and resistance would be very important in this commodity due to its narrow range . Keep an eye on daily levels before initiating any trade .