Silver markets fell on Thursday, but did find enough support near the $16.20 level to turn around. Ultimately, it looks as if we are trying to build up
Silver markets fell on Thursday, but did find enough support near the $16.20 level to turn around. Ultimately, it looks as if we are trying to build up enough momentum to break down, and I believe that the $16 level is the “floor” at the moment. If we can break below there the summer markets will continue to go towards the $15 level. Every time we rally, I believe there will be certain amount of resistance that should continue to push the market lower. I believe that the $17 level is the ceiling currently, and of course as long as we have you a stellar strength we could continue to see selling.
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.
