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Silver Forecast: 50-Day EMA Resistance Keeps Silver Trapped in a Choppy Range

From dailyforex.com

This is a market that has an even larger consolidation area between $70 and $90, but currently we are tightening up. And that makes a bit of sense considering that this is a market that is starting to really try to determine whether or not we will be held hostage by events in the Middle East still, or are we going to finally start to focus on the supply and demand situation. After all, there is nowhere near enough supply for the demand of silver out there, but with interest rates being tighter than usual, that does put a little bit of a dampening effect on rallies in this market. Once the Middle Eastern situation is ... (full story)

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  • Category: Technical Analysis