The FTSE fell during the course of the week, testing the $14.20 region. There is a significant amount of support just below the $14 handle though, so we
The FTSE fell during the course of the week, testing the $14.20 region. There is a significant amount of support just below the $14 handle though, so we feel that the market cannot be sold quite yet. A move below that $14 level does of course constitute a longer-term sell signal though, and we would not hesitate to do so. Rallies at this point in time will continue to struggle at the $16 level above, so they should offer selling opportunities as well. With the strengthening US dollar, we have no interest in buying silver.
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.
