The silver markets rose slightly during the session on Thursday, using the $14.50 level as support. With this, it appears that we are going to continue to
The silver markets rose slightly during the session on Thursday, using the $14.50 level as support. With this, it appears that we are going to continue to consolidate overall. We believe that the $15 level above is massively resistive, so any type of rally in this general vicinity should be a perfect selling opportunity. If we break down below the lows from Wednesday, we would also be sellers at that point. We have no interest in buying silver at the moment although do recognize that longer-term traders may be starting to pick up physical silver.
Silver Forecast August 7, 2015, Technical Analysis
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.
