weekly silver forecast
Silver price tried to outperformed gold last week . It even tested 14.20$ but failed to continue the momentum and immediately cracked from highs . It finally closed at 13.92$ . A good weekly resistance on chart at 14.55$ . This is trend reversal level for silver . Once buyers manage to pull this up and close above this barrier . Then expect xagusd to fire upto 15.10$ – 15.60$ and even more this week .
A good support on weekly chart stands at 13.40$ . If bears manage to break this weekly support and close beneath our weekly support . Then expect xagusd to correct upto 12.80$ – 12.20$ this week .
weekly silver forecast conclusion : Trend is flat to weak for now .
This upcoming week china’s gdp numbers would be crucial and it could be trend decider for upcoming weeks . So keep an eye on that data if you have existing position .
More will update in daily forecast update .