Silver markets initially tried to rally during the day on Monday, but found far too much in the way of resistance near the $14.20 level. With that being
Silver markets initially tried to rally during the day on Monday, but found far too much in the way of resistance near the $14.20 level. With that being the case we turned around and formed a bit of a shooting star of sorts. It appears that the market is going to eventually break down below the $14 level, perhaps reaching as low as $12 given enough time. We are sellers of rallies and of course sellers of breakdowns at this point in time and have no interest in buying as the downward pressure looks very strong.
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.
