Silver Forecast August 15, 2012, Technical Analysis

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The silver markets had an extremely quiet session on Tuesday, which is becoming the norm in this market recently. We have been stuck in a range between $27 and $28, and believe that this will continue for at least a couple more weeks.

Silver will have a bit of a bid in it due to the fact that so many traders expect central banks around the world to begin monetary easing policies again and as such there will be a demand for hard assets. However, the industrial demand part of the silver equation is very weak at the moment right now, and as such this metal will lag behind gold. As such, we are much more interested in buying gold and silver at the moment. However, if we break above the $30 level, this market will take off to the upside. As for selling, we won’t do it until we break well below the $25 level.

Silver Forecast August 15, 2012, Technical Analysis

Silver Forecast August 15, 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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