Silver markets initially fell on Monday, but turned around to form a slightly bullish candle. However, I think there is a massive amount of resistance
Silver markets initially fell on Monday, but turned around to form a slightly bullish candle. However, I think there is a massive amount of resistance near the $17 level, so given enough time we should see sellers enter this market again. Because of this, I am not interested in buying this market, but I recognize that given enough time we could get an opportunity to start selling at higher levels. I think there is a significant amount support below at the $16 level, so would make sense that any move lower will struggle there a bit.
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.
