Silver markets rallied slightly on Wednesday, as we continue to hang about the $17.10 level. A break above there could send the market to the $17.50
Silver markets rallied slightly on Wednesday, as we continue to hang about the $17.10 level. A break above there could send the market to the $17.50 level, where I would expect to see some type of resistance. I still believe in the strong dollar, lower precious metal story, so I think it’s only a matter of time before we can start shorting. However, at this point I am more than willing to sit on the sidelines until I get a nice berry set up that I can take advantage of. If we can break above the previous uptrend line, then I would consider buying.
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.
