Silver Forecast August 9, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

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

Find a Broker
Continue to FX Empire Network