Silver Forecast August 9, 2012, Technical Analysis

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Silver markets did very little during the Wednesday session as financial markets around the world were quiet in general. With the summer doldrums coming, it appears that the trading ranges will hold for the next couple weeks and this has significance in the silver markets as it has already been very tight in range bound begin with. Looking at the markets currently, we can see that there is massive support between the $25 and $26 levels. Conversely, we can see massive resistance between $29 and $30. We see this market is simply too tight to trade for anything more than the daily scalp, and could even that scalping this market isn’t going to be easy either. There simply far too much noise and we see better markets out there to trade at the moment.

Silver Forecast August 9, 2012, Technical Analysis

Silver Forecast August 9, 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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