Silver Forecast September 3, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The silver markets had an absolutely outstanding day on Friday as the Federal Reserve Chairman Ben Bernanke suggested that the central bank could engage in more U.S. Treasury purchases. This is essentially a form of quantitative easing, and as the ECB is going to be forced into doing the same it makes sense that the precious metals got a bit. After all, the Bank of Japan is aggressively easing its monetary policy, and there are several other banks around the world doing the same.

This is a market that has broken out now that it is above the $30 level. There is absolutely no interest on our part to sell silver at this point in time. In fact, we plan on buying this market every time it dips.

Silver Forecast September 3, 2012, Technical Analysis

Silver Forecast September 3, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the 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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.