Silver Forecast July 27, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The silver markets attempted to rally during the session on Thursday, but ended up giving back quite a bit of the gains by the end of the session. Because of the shooting star that was formed, we suspect that this market will struggle to gain much more in this environment. In fact, it appears that we are much more likely to fall back into the consolidation area that has been so tough to get out of lately.

With this being said, we still don’t like buying this market. We still see the $25 level the while as ultimate support, and see the $30 level above is extremely resistive. Although the gold markets seem to have had a fairly strong day, the silver markets have simply been left wanting. We are still flat of this market and simply observing.


Silver Forecast July 27, 2012, Technical Analysis

Silver Forecast July 27, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.