Silver forecast for the week of July 18, 2016, Technical Analysis

Silver markets went back and forth during the course of the week, hanging around the $20 level overall. This neutral candle suggests that perhaps we will have to pull back and build up a bit of momentum in order to continue going higher. I think at this point in time, the $18 level should be the “floor” in this market, and as a result I think from a longer-term perspective, you cannot short this market at all. Regardless though, you should think that volatility will be a constant companion.