Silver markets fell a bit during the day on Wednesday, testing the $18 level for support. This is an area that has a certain amount of psychological
Silver markets fell a bit during the day on Wednesday, testing the $18 level for support. This is an area that has a certain amount of psychological significance, so obviously, a bit of a bounce could be coming. On top of that, we have a nice, strong, uptrend during the day. The market looks as if we are going to try to reach towards the $18.50 level, and then the $19 level after that. Ultimately, the market might be choppy, but I still believe the buyers return repeatedly. It is not until we make a fresh, new low that I would even consider selling.
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.
