Silver markets initially tried to rally during the session on Wednesday but turned around and fell rather significantly. I think there is a lot of noise
Silver markets initially tried to rally during the session on Wednesday but turned around and fell rather significantly. I think there is a lot of noise just below, but I think that the $17 level is where we will really start to see support pick up again. Because of this, I think that short-term sellers will continue to jump into this market, but longer-term I still believe in the viability of a silver rally. Silver’s a very volatile market overall, so this recent action doesn’t surprise me very much. A lot of this is probably currency headwind.
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.
