The silver markets tried to rally during the course of the previous week, as the $18 level continues to offer significant resistance. That resistance
The silver markets tried to rally during the course of the previous week, as the $18 level continues to offer significant resistance. That resistance ended up forming a shooting star, which of course is a very bearish sign. Silver markets are essentially broken at this point in time, and we do fully anticipate a move down to the $15 level. We have no interest whatsoever in buying silver at the moment, as we believe the sellers will continue to push this market much lower given enough time. Ultimately, we believe the value the US dollar continues to work against precious metals.
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.
