By FXEmpire.com
The silver markets bounced just slightly on Thursday in an underwhelming effort to recoup some of the recent losses. The action lately has been very poor and this market looks broken. The $27 level is by far the most obvious support level, and a daily close below that is our favored signal at the time in order to sell. The $29 level above looks like it could be resistive, and as such we think that a consolidative move could be in the cards. However, a breaking of the $29 level would only lead into massive resistance at the $30 level, so we aren’t buying at all.
Click here to read Silver Technical Analysis.
Originally posted here
