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