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Silver Forecast September 27, 2016, Technical Analysis

By:
Christopher Lewis
Published: Sep 27, 2016, 04:57 UTC

Silver markets fell initially during the day on Monday, but found enough support below the 19.50 level to turn things around and form a bit of a hammer.

Silver daily chart, September 27, 2016

Silver markets fell initially during the day on Monday, but found enough support below the 19.50 level to turn things around and form a bit of a hammer. This is a market that I like anyway, so a break above the top is hammer has me going long. I think that given enough time, we should reach towards the $20 level, we will probably even break above that given enough time. I think if we pullback from here, it’s very likely that there will be buyers involved in order to take advantage of what would be perceived as value.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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