Silver price forecast for next week
Last week silver price remained in a small zone. Mainly it traded in 15.55 to 15.15$. This 40 cents range was main zone where traders trapped . When chart gave a buy signal it dipped below 15.20$ to eat stop loss. When chart shows a sell signal it went above 15.50$ and eaten seller stop loss. This week silver chart has a weekly resistance at 16.05$. If traders break this hurdle and manage to close above our resistance. Then expect market to zoom upto 16.80$ – 17.50$ this week .
A good support on silver chart at 14.70$ . If traders break this support and manage to close below our support . Then expect market to correct upto 13.80$ – 13$ this week .
Silver price forecast next week conclusion: Silver price trend is flat for upcoming week. Try to trade with minimum qty. Technical analysis suggests a no trade zone. Trade cautiously.
Gold price traded a range last week as it had 1190$ till 1240$ . So a small range is also an enemy of traders in this white metal .
A good support at 1180$, If traders break and close below this level then expect more pressure upto 1150$- 1120$ this week.
Weekly forecast conclusion : Gold trend is flat to positive for now .
More will update in daily forecast update .