The silver markets as you can see initially fell during the course of the day on Tuesday, but ultimately look as if they are ready to continue going
The silver markets as you can see initially fell during the course of the day on Tuesday, but ultimately look as if they are ready to continue going higher based on the fact that we ended up forming a hammer. That hammer suggests that perhaps we will go much higher, at least trying to test the $18 resistance barrier. It is an $18, but we feel that the market then breaks out to the upside and continues to go much higher. On the other hand though, if we break down below $16 we believe that the longer-term downtrend continues.
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.
