Silver Forecast July 21, 2016, Technical Analysis

The silver markets fell slightly during the course of the day on Wednesday, as we ended up testing the $19.50 region. There is quite a bit of support below though, and quite frankly I feel that this is a market that you cannot short. There is more than enough support down at the $18 level in my opinion to continue to push this market higher. That’s essentially the “floor” in the summer market, so I believe that sooner or later the buyers will return. With this, signs of support or a bounce higher is reason enough to start going long.