Silver 2016 Targets $ 16 – $10?

 

Silver Monthly

Please go to – https://globalbulliontimes.com/2015/12/02/2016-projection-on-precious-metals/ for a longer term outlook and discussion.

Silver Weekly

Fundamentals:

  • Slowing global economy could really dampen any upside on silver
  • Demand for physical silver coins and bars are rising but has not translated into higher prices
  • Seasonal demand should kick in which favour a short stint of a corrective rally

Technical:

  • Weekly RSI continue to signal a bullish divergence
  • Weekly 50 ma and the upper Bollinger band has been target of a short covering rally
  • Price action remain limited within the descending triangle formation
  • Coming months offer a decent risk reward to play the short covering bounce
  • Upside remain limited at weekly 50 ma or the upper Bollinger band as mentioned before
  • Overall trend is bearish and 2016 could offer a period of consolidation
  • We cannot rule out a new low in Silver in 2016
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s