March 2017 Forecasts of Silver Market

The silver market has been experiencing an increasing trend after the beginning of this year. The starting point of the Silver market was at the 16.015 USD level and reached 17.977 USD level on 18th February. When we look at the first forecasts of the Silver market for the March 2017 period, the positive process may not be continued for the first days of March. After a strong increase, we can observe some strong decreases in the Silver market. The 18.50 level will be so important for the Silver market for the first days of Silver. If the 18.50 level exceeds, the parity may try the 19.00 level which will be so critical. But, according to the many forex professionals, after reaching the 18.50 level, we can observe strong decreases and the parity may test 17.50 level again for the downward side.

Technically, if the 18,35 level is broken in the silver, it can be seen to decrease to 18,05 and then to 18,15 levels. Above the level of 18.00 breaks first, the channel's peak point 18,25 and then back to the level of 19,00 can be experienced.

Resistance levels : 18,25 – 18,45
Support levels : 17,65 – 17,95