Silver markets broke higher during the course of the session on Monday, clearing the $15 level as you can see on the chart. However, there is much more
Silver markets broke higher during the course of the session on Monday, clearing the $15 level as you can see on the chart. However, there is much more significant resistance near the $15.50 level, and as a result we feel that this rally probably won’t be a clear that area. If we get a resistant candle near the $15.50 level, we would not hesitate to start selling again. We believe that the market should then head down to the $15.00 level, and then back down to the $14.50 level given enough time. With that, we remain bearish.
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.
