weekly silver market analysis

Silver market analysis

Silver prices did not crash like gold last week and it was outperforming gold in every manner be it in downside or upside however it managed to close below 14.70$ which may haunt silver buyers this week and silver potential can be question by this level.

This week for silver is crucial as it need to click weekly technical resistance at 15.70$ and manage to close above this level to regain its outperformance badge from gold who is already in positive zone after a double bottom in 1075$ range , once silver price close above our resistance then expect a fire upto 16.70$ – 17.90$ in silver

If silver rates click our weekly technical support at 14$ and manage to close beneath this major support then a bad news for silver buyers may ring upto 13.20$ – 12.50$ and even more

Silver market analysis conclusion : Silver trend is flat to positive for this week but it need to hold above 14.70$ – 15$ range to maintain a positive scenario on charts. I would advice to buy in dips and do not sell on any rise. If its risking non stop then wait xagusd to drop a little and buy with strict stop loss. I would post daily levels to use stop loss.

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Posted in: Gold Silver Updates

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