Silver markets fell again during the course of the week, as we continue to see bearishness in precious metals overall. This of course was accelerated on
Silver markets fell again during the course of the week, as we continue to see bearishness in precious metals overall. This of course was accelerated on Friday as the Nonfarm Payroll numbers of course was better than anticipated, and that of course put pressure on this market. We believe that the $14.00 level below is massively supportive, but if we can get below there the silver markets will collapse at that point. A supportive candle near 14 points or zero dollars of course would be a potential buying opportunity but with the strengthening US dollar it’s hard to get excited about precious metals at the moment.
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.
