Silver Market Recap Report

Thu 03 May 2012 19:06:00 CT
Related Keywords: Metals

July silver ranged down sharply on the charts, with some fairly decent US economic data apparently discounted in the action today. On balance US economic data has pointed to a loss of momentum and it was clear today that better claims news wasn't capable of shifting sentiment around. Given the technical damage of the silver charts today it is likely that a portion of the declines today were the result of stop loss selling by discouraged silver bulls.

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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

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