Silver Analysis (2015.03.04)
The silver markets went back and forth during the session on Tuesday, after initially gapping lower. With that being the case, the market looks as if it’s ready to break down a little bit, but the $16 level continues to offer support and as a result the market should continue to bounce off of that level every time it tests the $16 level. If we break above the $17 level, we would be buyers at that point in time. Ultimately, we believe that this market will be the bullish long-term, but right now it’s going to be a bit volatile.