Silver Forecast August 23, 2012, Technical Analysis

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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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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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