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.
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.
