Silver Forecast September 12, 2012, Technical Analysis
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The silver market was very quiet during the Tuesday session as the $34 level continues to be fairly resistive. Nonetheless, we see the $31 level as massive support, and are looking to buy on a pullback as it comes. The longer we stay above $31, the more bullish we become of the silver market.
As long as the governments around the world are looking to increase quantitative easing, there’s absolutely no reason to think that silver will fall in price. With this being said, we are long-term investors in silver as well, and not only buy futures, but buy the SLV ETF, and physical silver as well. Every time silver dips until we get well below the $30 level we will be buying in one form or another.
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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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