Silver Futures May Decline to $38 by End of September: Technical Analysis

Bloomberg reported that a technical analysis said silver futures may extend their recent losses.

The market news is quoted as saying:

The precious metal probably will slide to $38 an ounce by the end of September, down 3.8 percent from yesterday’s closing price on the Comex in New York, after the commodity dropped below the support level on a trendline connecting the lows of July 1 through Sept. 7, according to Spencer Patton, the Chicago-based chief investment officer for Steel Vine.

To read the full market news, click here.