Silver prices traded in small range and updated near 15$ twice last week confirming a double top , No major demand from industry and gold prices are under pressure means no major positive news for silver as well hence market staying in pressure but most importantly its not falling either which is a big plus point for silver buyers , we indicated in our some of last reports that silver downside is not that deep like gold which may see 900-800$ if market remain same , Main problem for silver traders are its range , its stuck in between 14.50$ – 15$ since so many weeks that guessing next move for silver is next to impossible till it give some technical breakout .
If silver prices click our weekly technical resistance at 15.50$ and manage to close above our weekly hurdle then expect silver market to test upto 16.20$ – 17$ this week
If silver price click our weekly support at 14.30$ and manage to close beneath our weekly base support then expect another fresh round of selling in silver rates upto 13.70$ – 13$ this week
Silver report conclusion : Silver price trend is weak
More will update in daily silver forecast