Silver markets tried to rally during the course of the session on Thursday, but turned right back around and formed a bit of a shooting star. I believe we
Silver markets tried to rally during the course of the session on Thursday, but turned right back around and formed a bit of a shooting star. I believe we are going to continue to drift lower, but I also recognize that the $18 level below should be massively supportive as it was a significant resistance barrier previously. However, we will more than likely have quite a bit of volatility, so you have to be willing to sit through that. I do believe that silver goes higher over the longer term though, so any short position that I would put on right now would be short-term at best.
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.
