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The silver markets rallied during the week as the Federal Reserve announced further quantitative easing. The end of the week we formed a hammer and this is sitting just below the $35 resistance level. This looks very bullish, and as long as we can break above the $35 level on a daily close we believe that this market does much higher. If we break the bottom of the scandal however, that would make it a "hanging man", which of course is a very bearish sign. Currently we believe that the $35 level tells the whole story, and as such are waiting to see what the market does at this level.