Silver Forecast May 30, 2016, Technical Analysis

Silver markets initially fell during the day on Friday, but turn right back around to form a bit of a hammer. The hammer of course is preceded by the shooting star on Thursday, so it looks as if the market is trying to figure out where to go from here. Ultimately though, I think that the $16 level will be massively supportive, so having said that I am actually believing that the market will continue to go higher. A break above the top of the shooting star from the Thursday session would be a buying opportunity, but then again a pullback shows an opportunity to go long based upon value.