Silver markets had a very quiet Wednesday, hovering just above the $16.60 level most of the day. At the moment, it appears that we are a bit exhausted
Silver markets had a very quiet Wednesday, hovering just above the $16.60 level most of the day. At the moment, it appears that we are a bit exhausted from the recent choppiness but I would still venture to say that there is a lot of bearish pressure on this market. After all, the US dollar continues to strengthen so sooner or later the sellers should return. Feel that the market is going to reach towards the $16 level again, and that $17 is essentially a “ceiling” currently. With this I remain bearish.
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.
