By FXEmpire.com
The silver markets had a very volatile week for the short term trader, but for the long-term trader we simply see no action at all. The last six weeks have had a very tight trading range, and as such we feel that the long-term possibilities in this marketplace are probably going to have to wait until the majority of large traders come back from the vacation season.
We do have a little bit of a down trending line and ascending triangle possibly forming in this market, but also see the $25 level is massive support we need to break the $25 level in order to start shorting this market as we see nothing but air until we get to $15. Odds are however, that we are more than likely going to see an attempt at a rally as the precious metal trade has been so reliable over the last decade. If that’s the case, we think a break above $30 since this market back to the $36 level.
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Originally posted here
