Silver Forecast September 25, 2012, Technical Analysis

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The silver markets fell during most of the session on Friday, but found support at the $34 level which is the first area we suspected that it could. However, the market has run up quite a bit lately, and as such we would mind seen a bit of a pullback. The daily candle is a bit of a hammer, but not them picture-perfect one we like to see in order to go long.

At this point time, we need to see a daily close above the $35 level to be convinced that the bullishness will continue. Otherwise, we are simply waiting for a pullback that shows signs of support in order to buy silver. We have absolutely zero plans for selling.

 

Silver Forecast September 25, 2012, Technical Analysis

Silver Forecast September 25, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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