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
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.
