Silver Forecast October 8, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The silver markets fell during the session on Friday as the market pullback in order to finish underneath the $35 level. The area looks very supportive though, and as such we like buying more the closer we get to the $34 handle. This market looks healthy because of all of the printing that is going on around central banks globally, and the fact that many traders are trying to diversify out of paper currencies.

There is a shortage of silver around the world, and as a result this market should continue to be healthy over the long term. We like owning the SLV ETF as a core holding and adding to it on dips using futures markets as it applies more leverage. We do not short silver under any circumstances.

 

Silver Forecast October 8, 2012, Technical Analysis

Silver Forecast October 8, 2012, Technical Analysis

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