Silver Market Recap: 29 September 2011

The Silver market forged a moderate trading range today but some Bulls might have been disappointed with the lack of a definitive rally today.

While Silver spent a large portion of the session today in positive ground, some traders expected more upside action in the wake of a generally favorable sweep of headlines news today.

In addition to a temporary all clear from the German EFSF vote, the Silver market also saw slightly better than expected flow of US data and yet that didn't seem to spark an aggressive risk-on flight back into physical commodity markets today.

The Bulls have to be happy with the news flow today but the inability to move away from the 30.00 level might have discouraged some traders today.
Paul A. Ebeling, Jnr.

 

Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.