Silver markets tried to rally during the course of the session on Thursday, but turned right back around and formed a bit of a shooting star. I believe we
Silver markets tried to rally during the course of the session on Thursday, but turned right back around and formed a bit of a shooting star. I believe we are going to continue to drift lower, but I also recognize that the $18 level below should be massively supportive as it was a significant resistance barrier previously. However, we will more than likely have quite a bit of volatility, so you have to be willing to sit through that. I do believe that silver goes higher over the longer term though, so any short position that I would put on right now would be short-term at best.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
