The silver markets bounced a bit during the course of the session on Friday, testing the $16.60 level, but turned right back around to form a shooting
The silver markets bounced a bit during the course of the session on Friday, testing the $16.60 level, but turned right back around to form a shooting star. The shooting star of course signifies that we have weakness in this market, and could go down to the $16 level below. That is an area that that has seen quite a bit of pressure in the past, so with this being the case it’s very likely that buyers will return. A supportive candle in that area has us buying. On the other hand, if we can break above the top of the shooting star from the session on Friday, we could go higher there as well.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
