Silver Forecast October 12, 2012, Technical Analysis

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The silver markets moved very little during the session on Thursday as the $34 level came into play. This area has offered support recently, and of course it did as well during the Thursday session. This market does look like its consolidating and going sideways to catch its breath after the massive search that we’ve seen over the last month or so.

This market looks very healthy, and in fact if we see a pullback we are more than willing to wait until we see the supportive candle that signals it’s time to buy again. We simply do not think that selling silver is a viable option at this point in time, and as such we are simply looking for buy signals.

 

Silver Forecast October 12, 2012, Technical Analysis

Silver Forecast October 12, 2012, 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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