Silver News for the week of July 22, 2013
Silver markets did
very little during the session on Friday, as we continue to bounce
around between the $19 level, and the $20 level. We need to break above
the $20 level in order to start going long though, and we do not short
this market as it seems to have a little bit of a base in this general
vicinity. $18 will be the key for sellers, as if they can break below
that, this market could be in serious trouble. That being the case,
unless you are a longer-term trader, it’s going to be very difficult to
trade this market. We’ve been buying physical silver, but quite frankly
are a bit nervous about buying the futures contract at this point in
time.
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