Silver forecast for the week of May 9, 2016, Technical Analysis

Silver markets initially fell during the course the week but turned around to form a bit of a hammer. That’s a very bullish sign, as we press up against the $18 level. If we can break above there, silver should continue to go much higher, and perhaps continue to rally over the longer term. We have no interest in selling silver, as there is more than enough bullish pressure underneath to continue to push this market higher eventually. Ultimately, low interest rates coming out of super banks around the world should continue to make precious metals interesting.