The silver markets fell slightly during the course of the day on Wednesday, as we ended up testing the $19.50 region. There is quite a bit of support
The silver markets fell slightly during the course of the day on Wednesday, as we ended up testing the $19.50 region. There is quite a bit of support below though, and quite frankly I feel that this is a market that you cannot short. There is more than enough support down at the $18 level in my opinion to continue to push this market higher. That’s essentially the “floor” in the summer market, so I believe that sooner or later the buyers will return. With this, signs of support or a bounce higher is reason enough to start going long.
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.