Silver Forecast October 1, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The silver markets had a very quiet session on Friday as the market held onto a much consolidated tone. The $35 level just above is massive resistance, and if we can get above that we should be clear to run to at least the $40 level. However, with the choppy conditions that we have seen in various risk assets currently, we are waiting until we get a daily close above this level in order to start buying again.

We would be buying futures, CFDs, and the SLV ETF hand over fist if we managed to get above this all-important level. As for selling, we have absolutely no interest in doing so as the silver market is so massively bullish.

 

Silver Forecast October 1, 2012, Technical Analysis

Silver Forecast October 1, 2012, Technical Analysis

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