Silver September Futures may climb to $34.50 an ounce this quarter after declinesing to $26.33 on Sept. 26 and $26.105 on June 28, this year’s low.
On Monday, the silver markets had a quiet trading session as traders returned from a fairly quiet weekend. No news is a good nes. For the first time in several weeks, there were no headlines coming out of Europe that move the market in any particular direction at the Monday open. The action was slightly bearish in the early hours, but did bounce later in the day in order to form a very small hammer. Because of this pseudo-hammer, it looks possible next move to become another attempt to push silver prices higher.
However, there is a strong resistance above the current price, and running all the way to $30.
