By FXEmpire.com
The silver markets barely moved during the week as the $31 level continues to keep the bears at bay. The market is currently in a downtrend channel, and the market has been grinding lower for about 9 months now. The $31 level is however, very interesting and important as far as we can tell. The $30 level must be broken in order for the market to reach the bottom of the channel again. The breaking above the $36 level would show a real breakout and acceleration of the bullish momentum that the market has seen from time to time over the last couple of years. In the meantime, we feel that this market will continue to be very tight and should only make short-term moves until this massive channel is either broken to the upside, or the $30 level gives way.
Click here a current Silver Chart.
Originally posted here
