Silver Forecast November 4, Technical Analysis

November 3, 2013

New York (Nov 3)  Silver markets did almost nothing during the session on Friday as we sit just above the support level. That being the case, this market looks like it could bounce from here, but in the end we think that this market will continue to be choppy. A break higher though could be a move to the $23 level waiting to happen. Above there, we need to breakout and close higher in order to head towards the $25 level. If we break lower, there is plenty of support between now and $20.50, and that being the case we are not comfortable shorting.


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