Silver markets fell slightly during the session on Thursday, as we continue to test the $17 level for support and importance. We are in a longer-term
Silver markets fell slightly during the session on Thursday, as we continue to test the $17 level for support and importance. We are in a longer-term downtrend though, so if we can break down below the bottom of the candle I am a seller. The $17.50 level above is resistive as well, so even if we rally from here, and exhaustive candle should be a nice selling opportunity of the US dollar continues to strengthen overall. Ultimately, I believe that we will reach towards the $16 level, that it will be rather volatile as we do.
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.
