Silver markets initially fell on Friday but turned around back around to form a bit of a hammer. The hammer of course is a very bullish sign, and thus I
Silver markets initially fell on Friday but turned around back around to form a bit of a hammer. The hammer of course is a very bullish sign, and thus I think that we may get a bit of a bounce. However, the $17 level above is resistive, just as the $17.50 level is. Because of this, I have no interest in buying this market and look at any rally as a potential selling opportunity. Alternately, if we can break down below the hammer from both Thursday and Friday, I think that would be an extraordinarily bearish sign as we would reach towards the $16 level.
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.
