Silver Forecast August 31, 2012, Technical Analysis

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The silver markets fell slightly during the session on Thursday, but stayed above the vital $30 level which was the scene of our breakout. Because of this, we are still bullish of this market, and would buy supportive candles all the way down to the $28 level. It isn’t until we get down below the $28 level that we think that this market can’t be bought. We believe that eventually monetary easing by several central banks around the world should continue to push precious metals prices higher, and silver of course will be no exception. We are buying supportive candles, and will not consider selling until we are below the $25 level.

 

Silver Forecast August 31, 2012, Technical Analysis

Silver Forecast August 31, 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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