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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
