SILVER
The
silver market fell during the course of the session on yesterday, as
the market continues to see bearish pressure. We feel that this
market has a significant amount of support all the way down to the
$15.50 level, and with that we feel that the market will sooner or
later provide a buying opportunity as the buyers will re emerge. With
that, we are simply standing on the sidelines and waiting for the
right supportive candle on the daily chart to get involved. We do not
see selling opportunities in this market.
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| Silver Chart |
CRUDE
The
light sweet crude market fell during the course of the session on
yesterday, as the $54 level continues offer resistance. With that,
the market looks as if it’s ready to continue to consolidate going
forward, and as a result a pullback to the $48 level really wouldn’t
be much of a surprise. We think that the short-term market will
continue to be one that will be followed, as longer-term trades will
continue to be difficult. With that, the market is still negative, so
we are much more comfortable shorting this market on signs of
resistance.
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| Crude Report |
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