By FXEmpire.com
The silver markets had a remarkable day on Friday as the world reacted to European announcements of funds to buy Spanish and Italian bonds. Also being worked out is the recapitalization of Spanish banks. This got the risk appetite of the trading community in an uproar, and all things risk related made money during the Friday session. With this being said however, we are starting to run into the meat of the resistance.
With this in mind, we think that eventually this rally will run out of steam once the details get released. This release has been the pattern over the last two years. This being said, we are looking for a week candle from which to sell. At this moment in time however, there is no selling set up and the resistance is too close to be buying this material.
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Originally posted here
