The silver markets had a positive session rising over 1% as the markets rocked back and forth in general during the Monday trading hours. However, it
The silver markets had a positive session rising over 1% as the markets rocked back and forth in general during the Monday trading hours. However, it presently looks like we are simply in consolidation, and we do like the idea of the $33.00 level being very supportive. We also recognize the fact that $34.50 is a resistance area, and that there is quite a bit of noise all the way to the $35.00 level.
With this in mind, we are bullish, but we wait for pullbacks in order to add to our long positions that we already have established. In fact, during the Monday early hours we did in fact add another contract.
Silver Forecast December 4, 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.
