The silver markets fell during the week after trying to break the $34.00 resistance level. The resulting candle is somewhat weak looking, but we currently
The silver markets fell during the week after trying to break the $34.00 resistance level. The resulting candle is somewhat weak looking, but we currently sit above a significant area in the form of $32.00. Because of this, we aren’t overly concerned about the long-term viability of the uptrend in this market, and quite frankly assume that we will see support somewhere between here and $30.00. Nonetheless, we are looking for some type of supportive candle in order to start buying again for the expected breakout above the $35.00 level.
Silver forecast for the week of December 17, 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.