Silver Forecast September 7, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The silver market had a positive session on Thursday as it broke through the top of the hammer formed on Wednesday. This was a bullish sign, although we did manage to give back a little bit after $33 level. Nonetheless, it is obvious that the silver market is in a very strong uptrend in selling this market would be foolish to say the least. On dips, we feel that this is a "buy only" market.

Because the market is acting so strongly, it will kick off a much stronger up leg as far as we can tell. We think the precious metals will continue to do well as long as the central banks are hell-bent on easing. There is a bit of a currency war going on out there, and as such precious metals are to be bought, and never shorted.

 

Silver Forecast September 7, 2012, Technical Analysis

Silver Forecast September 7, 2012, Technical Analysis

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