The silver markets bounced slightly during the course of the week, but remains below the $18 level. The $18 level above is resistive as far as we can see,
The silver markets bounced slightly during the course of the week, but remains below the $18 level. The $18 level above is resistive as far as we can see, so we need to get above there before we can even begin to imagine buying this market. What frankly, a move above $18.50 would have us reentering the consolidation area and perhaps heading as high as $20 given enough time. All things being equal though, we feel that the market is still bearish, and therefore prefer to sell resistive candles as they appear.
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.