weekly silver forecast
Silver ( xagusd ) price fired last week and tested high of 15.80$ . Before closing it started consolidating a bit and tested 15.40$ . Finally it settled above 15.50$ . But main hurdle for last week was 15.55$ . However a good resistance on weekly chart at 16$ . If traders break this hurdle and manage to close above our resistance . Then expect market to zoom upto 16.60$ – 17.20$ this upcoming week .
A good support on weekly silver chart at 15$ . If traders break this hurdle and manage to close below our weekly technical support . Then expect market to correct upto 14.30$ – 13.60$ this upcoming week .
Keep an eye on chinese major data this week . It would have an impact on prices . If you take fresh trade then watch daily levels before executing any major trade .
weekly silver forecast conclusion : Trend is positive for now for this week . Avoid any major selling .
More will update in our daily forecast update .