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.
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.
