Silver Forecast January 6, 2017, Technical Analysis

Silver markets rallied on Thursday as we continue to see a bit of a bounce in the precious metals sector. I still see a massive amount of resistance above though, especially at the 17,000 handle. This is an area that I think will bring sellers back into the market, and on signs of exhaustion I am more than willing to start shorting silver. If we get that exhaustive candle, the market should then start turning around and reaching towards the $16 level underneath. If we break above the $17.25 level, the market would then look rather positive.