Silver markets rallied during the day on Thursday, breaking above the $18 level. This is an area that has a certain amount of psychological resistance to
Silver markets rallied during the day on Thursday, breaking above the $18 level. This is an area that has a certain amount of psychological resistance to it but the fact that we pierced that area tells me that we will eventually continue to go higher. I think the market can reach towards the $18.50 level, and the pullback should be supported. In fact, I believe that buyers will be very interested near the $17.75, and I look at pullbacks as simple value in a market that looks very healthy. The 3-major moving average is on the daily timeframe marketing ready across to the upside, signaling a longer-term uptrend.
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.
