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.
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.
