Silver forecast for the week of February 18, 2013, Technical Analysis

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

Silver markets had a rough couple of sessions this past week, falling to the $30.00 level. We've actually close just underneath that, bonds are still well within the tolerance of support. Looking at this chart, it's easy to make the case for a consolidation area between $27.00 and $35.00. With that being the case, we think that any further weakness should be looked at as a buying opportunity if we get closer to the $28.00 level. Central banks around the world are buying gold and silver in record amounts, so having said that there is a good chance that a natural bit will be in this market going forward. With that being the case, we simply look for some type of supportive candle to start buying again.



Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network