The silver markets continued to be very quiet on Tuesday as the market seems to be waiting for the Federal Reserve announcement. The Fed is suspected of easing by many traders out there, and as a result the silver markets could be coiling up for an explosive move. A move higher would be possible if the Fed does ease, but if it doesn’t – this market will fall as a result of the strengthening US dollar.

The area that we are trading in is still a consolidative and choppy rectangle for our money, and as a result we are waiting to see a break out of the area. The $30 level on the upside needs to give way for us to buy, and a break of the $27 level to the downside is needed for us to sell.

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Originally posted here