Silver Forecast August 23, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The silver markets broke out again during the Wednesday session as the $30 level is being pressed upon. The market will be completely broken to the upside if we can get a daily close above the $30 level, and that would be our signal to not only buy, but hold. We think that the silver markets will certainly be higher over time, and as such you can either be long now, or wait for that $30 level to break. Either way, selling this market simply is not possible, and with the Federal Reserve looking likely to ease now, we think that precious metals in general will be a good trade to the upside.


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