Silver Forecast December 11, 2012, Technical Analysis

The silver markets had a positive session on Monday, which of course wouldn’t have been a major surprise if you have been reading our reports. I stated on Thursday and Friday that the $33.00 level looks to be rather supportive, and have since seen exactly that.

However, I can see that the $33.30 level is a little bit of resistance as we have been consolidating over the last three days or so, but do feel that it will eventually be overcome as it is minor resistance at best. If we managed to break above the highs from the Monday session, we are more than willing to continue to add to our silver positions.