Silver Forecast September 11, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The silver market had an interesting session on Monday as it both gained, and then fell. Ultimately, it formed a shooting star just below the $34 level, and this suggests to us that a pullback is coming.

The shooting star suggests to us that we will go south to look for something support, and we think that we could find it at any of the handles. The most significant support level in our eyes is the $31 level, and as a result we would be rather aggressive to buy support candles in that general vicinity. We are already long of this market, and certainly wouldn't short it at this point. If we managed to break above the top of the shooting star for Monday, this would be a bullish sign as well and have us buying also.

Silver Forecast September 11, 2012, Technical Analysis

Silver Forecast September 11, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network