Silver forecast for the week of January 25, 2016, Technical Analysis

Silver markets broke higher during the course of the week, and look to be forming some type of base in this general vicinity. However, we do not believe that this market can break out to the upside given enough time, but we do not have that yet. The $14.60 level above would have been broken in order for us to start going long. Pullbacks at this point in time will continue to see quite a bit of support near the $13.80 level, so as long as we can stay above there we have to think that eventually this longer-term trend is starting to try to reverse.