Silver: Buyers Step In on Dips

From dailyforex.com

Silver initially fell during trading on Wednesday, but we can clearly see that there is a significant amount of support near the $36.50 level. And even if we were to break down below there, we are in the larger consolidation area that we have been in for about two months. The silver market had initially shot much higher to get to this area. Now I think we're just working off a lot of the exhaust broth in the market due to the fact that we got here too quickly. The 50 day EMA is breaking above the $35 level, which also happens to be the bottom of the overall consolidation area. So, I think it all works together to ... (full story)