silver price technical analysis forecast

silver price will it lead to new lows the near future 

If Silver re-tests and break support region around $15.30 levels as depicted on the daily chart view here then we are prob going to see new lows – im expecting to see narrow down time frames and possible Major Cycle Low targets .if we will look closely the charts we can see a triangle  pattern that’s mean that we probably going to see the silver break up/down, while break down again 15.30 will lead to 12.50 area ,immediate support is seen at $15.30, followed by $14.30 after 13.60 and lower. While resistance is seen at $16.70, followed by $17.20, $18.00 and higher respectively. Bulls are expected to regain control if we will see him break up 16.20 area                                                                                                 

Silver soared from $4 an ounce in 2001 to $21 in 2008. Then, the 2008 credit crisis stoked the fire. After a brief panic, which sent silver back down to $9 an ounce, silver rocketed up to its all-time high of nearly $50,  the Major Cycle Low arrives will remain in a bearish type correction for now                                                                                                                                                                                                                                                                 Silver metal used to other things expect jewelry. Last year, around 600 million ounces of silver were used for things like solar panels, photography, and connections for electronic devices, And about 250 million ounces were used to create bullion coins and bars

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

Leave a comment