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Silver Forecast December 31, 2012, Technical Analysis

By:
Christopher Lewis
Updated: Aug 21, 2015, 02:00 UTC

The silver markets continued to do very little on Friday as we hover around the $30.00 level. This was the site of a gap back in late August, and should

Silver Forecast December 31, 2012, Technical Analysis

The silver markets continued to do very little on Friday as we hover around the $30.00 level. This was the site of a gap back in late August, and should offer support going forward. However, we are very low liquidity type of environment being the end of the year, and as a result we can only read so much into the price action.

We do know that we have a longer-term upside bias in this marketplace, so we will buy supportive candles if they appear. Whether or not it will be today is a completely different question, as we expect the markets to be very, very quiet before New Year’s Eve.

 

Silver Forecast December 31, 2012, Technical Analysis
Silver Forecast December 31, 2012, Technical Analysis

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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