Silver markets initially tried to rally on Tuesday but found the $18 level to be a bit too resistive. By turning around and falling the way they did, it
Silver markets initially tried to rally on Tuesday but found the $18 level to be a bit too resistive. By turning around and falling the way they did, it suggests that we are going to continue to grind lower. I think that there is a significant amount of support to be found at the $17.50 level, so I would expect that a bounce could be coming. However, I also recognize that we could drift all the way down to the $17 level and stay within the overall consolidation that we have seen recently. Expect volatility, this is probably a market that it’s going to be a bit difficult.
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.
