Weekly silver forecast
Silver ( Xagusd ) prices crashed last week from 17.30$ zone till 16.30$ . It underperformed gold last week and crashed badly . It finally closed at 16.52$ . A good weekly support on weekly silver chart stands at 15.98$ . If traders break this major support and manage to close beneath our support . Then expect this commodity to test upto 15.40$ – 15$ this week .
A good resistance on weekly silver chart stands at 17$ . Once traders break this hurdle and manage to close above our resistance this week . Then expect this precious metal prices to rise upto 17.60$ – 18.30$ this upcoming week .
We have major important data this week which could effect this metal prices . We updated list in our gold forecast post . Major data for this commodity this week would be UK and US gdp data . It would give a clear picture for upcoming price trend . Technically this precious commodity is in grip of sellers so do not take any bulk buy position without any proper stoploss .
Weekly Silver forecast conclusion : Xagusd trend is in favor of bears . Do not buy without a proper stoploss . We will be posting daily support and resistance levels in our daily forecast . Keep an eye on that .
More will update in daily forecast update .