Silver Forecast April 23, 2012, Technical Analysis

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The silver markets continued to grind sideways on Friday as the $31 level held up as support yet again. The volatility in this market is almost zero at this point, but the fact that the $31 support level is holding for so long is somewhat telling. We see the support level as going all the way down to the $30 level, and in order to sell this market, we need to break below that on a daily close. In the mean time, we are accumulating small positions and taking small gains as we bounce from the lows, taking what the market is willing to give. 

Silver Forecast April 23, 2012, Technical Analysis

Silver Forecast April 23, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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