Silver Forecast September 24, 2012, Technical Analysis
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Silver markets rose during the Friday session, but came back down under the $35 level in order to form a shooting star. This is part of a cluster between $34 and $35, and as such we think we are simply consolidating at this area.
The move recently has been straight, and as such a little bit of a rest would be a huge surprise. In fact, it would be a very healthy thing for this very bullish market. We are buying silver on the dips, and do hold quite a bit of physical silver, as well as the as SLV ETF and the occasional silver futures contract.
We consider the SLV and physical metal our “core holdings”, with the futures market as a way to boost all our returns. Looking forward, we see absolutely no reason to sell silver, and certainly wouldn’t do it until we get well below the $25 level.
Silver Forecast September 24, 2012, Technical Analysis
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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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