Silver forecast for the week of January 16, 2017, Technical Analysis
The silver markets initially tried to rally during the week, but ran into a bit of resistance at the $17 level. By doing so, we ended up forming a shooting star which of course is a very negative sign. A break down below the bottom of that candle could send
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The silver markets initially tried to rally during the week, but ran into a bit of resistance at the $17 level. By doing so, we ended up forming a shooting star which of course is a very negative sign. A break down below the bottom of that candle could send this market looking for the $15.75 level again, and perhaps even lower than that. Alternately, a break above the $17.20 level would be extraordinarily bullish. Pay attention to the US dollar, as this market tends to move in the opposite direction overall.
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