By FXEmpire.com
The silver markets fell on Thursday as the Federal Reserve Chairman failed to signal further easing in front of the Congress. The silver markets are going to suffer a double whammy in times like this as the metal is not only a precious metal, but it is also an industry commodity as well. The industrial slowdown will continue to lower demand for silver, and this will hurt price. The market has failed at the $30 level, an area that we stated was the top of the resistance. We do see that the $27 level will offer support in the future. Because of this, we still think of this market as range bound.
Click here to read Silver Technical Analysis.
Originally posted here
