Silver Forecast October 5, 2012, Technical Analysis
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The silver markets rose during the Thursday session to test the $35 level yet again. The $35 resistance level has held again, and as a matter fact it looks like the pressure is most certainly building.
This market is so bullish that we not only by physical silver, but we buy contracts on the futures exchange every time we pulled back and show any signs of support. The SLV ETF is an excellent way to play this market as it gives you exposure to both the silver futures, and the silver miners.
We think that this is a buy and hold market overall and as such will simply by it every time it falls and shows any signs of support. However, if you do see this market break well above the $35 area, at that point in time adding to any position that you have would be highly profitable
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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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