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Silver Forecast October 29, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 25, 2015, 07:00 UTC

The silver markets tried to rally during the session on Tuesday, but failed again. That being the case, we ended up forming a shooting star, and as a

Silver Forecast October 29, 2014, Technical Analysis

The silver markets tried to rally during the session on Tuesday, but failed again. That being the case, we ended up forming a shooting star, and as a result it looks as if the market could be facing quite a bit of pressure at the moment, as the $17 level has been supportive. Because of that, we believe that a move below the $17 level should send this market lower, but we also believe that rallies of to the $17.50 level will more than likely be met with selling pressure going forward, as the US dollar continues to strengthen overall.

 

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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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