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
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.
