By FXEmpire.com
The silver markets fell for much of the session on Wednesday, but managed to bounce in the end to form a hammer. The market stopped trading at the $28 handle, and this is right in the middle of the current consolidation area. The top of this range is the $29 to $30 zone, with the bottom being the $27 level. The trend is certainly down as of late, and the market could be forming a triangle or pennant to signal an impending move. On a break of either of these two levels, we are willing to follow the market, but must admit we are more comfortable selling.
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