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.
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.
