The silver markets as you can see initially fell during the course of the day on Tuesday, testing the $15 level for support. By doing so, we ended up
The silver markets as you can see initially fell during the course of the day on Tuesday, testing the $15 level for support. By doing so, we ended up turning things back around and forming a hammer, and that of course shows strength. With this, we feel that the market is probably going to try to break above the $15.50 level. However, this is a market that has significant support in that region previously, and now should have significant resistance. With this, we are not willing to buy, but do not have a sell signal at the moment either.
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.
