Silver Forecast August 21, 2015, Technical Analysis

Silver markets rally during the course of the session on Thursday, but found enough resistance at the $15.50 level to stop. With that being the case, this market has seen support here previously, so it would make sense that we would see some selling pressure. With this, we are waiting to see whether or not there is a resistive candle in order to start shorting. On the other hand, we break well above this area, we feel that the market should then head to the $16.00 level. If we do break down though, we expect this market to head to the $15 level.