Silver forecast for the week of October 15, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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Silver markets fell over the last week as the $36 level continued to act as resistance. The $36 level is essentially the top of a massive consolidation area that goes down to $26 as the market has been bouncing around in it over the last year or so. The candle is a bit weaker than some of the other ones we have printed lately, and as a result we think that a pullback could be in the making. However, as the move has been so strong over the last month or two, we think this is a pullback that should produce a buying opportunity.

Silver forecast for the week of October 15, 2012, Technical Analysis

Silver forecast for the week of October 15, 2012, Technical Analysis

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