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
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.
