The silver markets initially tried to rally during the day on Tuesday but found enough resistance above the $17.60 level to turn things back around and
The silver markets initially tried to rally during the day on Tuesday but found enough resistance above the $17.60 level to turn things back around and form a bit of a shooting star. Ultimately, I believe that the market is simply trying to figure out where wants to go yet, and it is trying to form a bit of a base that allows it to rally from here, and with that being the case I think that short-term buying opportunities may present themselves again and again on signs of support. However, we are obviously not ready to go anywhere for longer-term move quite yet.
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.
