Silver Forecast October 1, 2012, Technical Analysis
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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.
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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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