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.
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.
