The silver markets fell on Friday as the $34.50 resistance area continues to stymie the buyers. However, over the long run this market does look rather
The silver markets fell on Friday as the $34.50 resistance area continues to stymie the buyers. However, over the long run this market does look rather bullish, and we think that any pullback like this simply invites more buying.
We see a significant amount of support at the $33.00 level, but even more down at the $32.00 level. With this in mind, we are buying on a supportive candle such as a hammer or a relatively long green one. We have absolutely no plans to sell silver at this moment in time, and in fact hold it in both physical form and ETF form.
Silver Forecast December 3, 2012, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
