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Silver Futures: Forecast

Published 12/10/2014, 11:26 PM
Updated 07/09/2023, 06:31 AM

Silver Futures Weekly Chart

Silver hit our next target & strong resistance at 1700/10. A high for the day was expected to try shorts with a stop above 1730. We can try this again today but be ready to go with an unexpected break higher with 1710/00 then likely to act as good support for a move to 1760/65 and perhaps as far as strong resistance at 1782/88 this week.

Failure to beat 1730 as hoped keeps us short for a move back to 1685/80 below here adds pressure to target 1665 then good support at 1655/50. We need to exit any remaining shorts here and try longs with stops below 1625. On a break lower however we should then target 1605.

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