The silver markets as you can see broke down initially during the course of the session on Tuesday, but continues to see buyers just below the $14.50
The silver markets as you can see broke down initially during the course of the session on Tuesday, but continues to see buyers just below the $14.50 level. This is significant support, but we see significant resistance at the $15.00 level. In other words, we think this market continues to consolidate. At this point in time, we would be buyers for very short-term moves, but are much more comfortable selling at higher levels above, on signs of resistance. We would use short-term charts to enter the market at this point in time. Ultimately though, we believe that the sellers are still in control.
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.
