Silver Forecast September 10, 2012, Technical Analysis
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The silver markets have absolutely shot straight up over the last couple of weeks, and Friday was no different. With the poor jobs number that was announced on Friday, it seems that the Federal Reserve is all but tend in when it comes to deciding whether or not to ease its monetary policy.
As the Federal Reserve eases monetary policy, it should bring down the value of the dollar overall and give a boost to precious metals such as silver and gold. Because of this, we are buying on pullbacks as the $30 level giving way the other day was a massive buy signal. We think that candles that are pullbacks that show any signs of strength are more than welcome sites for those of us who wish to be long of silver.
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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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