The silver markets have been weak over the last two months and in reality since March 2011. The market has been in a downwards channel since that point in
The silver markets have been weak over the last two months and in reality since March 2011. The market has been in a downwards channel since that point in time, and as a result this market has been somewhat range bound. The market is also driven by industrial demand, so it will be a bit of a different animal than gold – even though there are plenty of people that trade the two in tandem. Because of this, we suspect that there could be a divergence between the two metals, with gold rising and silver wilting over time. On a break below the $30 level, we are sellers.
Silver Forecast for the Week of April 16, 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.
