Silver forecast for the week of February 8, 2016, Technical Analysis

Silver markets broke higher during the course of the week, breaking above the top of the shooting star from the previous week. Now that we have broken above the top of these negative candles, it looks as if the market should continue to go to the $16 level. Ultimately, silver looks as if it has formed a bit of a base, and with that we are buyers but recognize that there will be quite a bit of volatility going forward. We have no interest in selling at this point in time.