Silver Forecast January 18, 2013, Technical Analysis

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The silver markets initially fell during the session on Thursday, but found enough support at $31.00 level in order to bounce and closed the day out as a hammer. This hammer suggests that we are going higher, and a break above the top of it should see prices aim for the $33.00 level. We are bullish of silver as all of you know, and the fact that we sell this action on Thursday only reinforces that. We think that if we can continue higher, the $32.00 level will more than likely offer a bit of resistance, but it should be minor resistance in the big scheme of things. We will continue to add to our position every time we pullback in this marketplace.

 

Silver Forecast January 18, 2013, Technical Analysis

Silver Forecast January 18, 2013, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

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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