Silver markets rallied on Tuesday, as we approach the $17 level. This is an area where I would expect to see some exhaustion though, and of course the
Silver markets rallied on Tuesday, as we approach the $17 level. This is an area where I would expect to see some exhaustion though, and of course the 100-day exponential moving average sitting just above that level will attract a lot of attention. We’ve been in a downtrend for some time, and remain so if we can stay below the $17.25 level. I’m willing to sell signs of exhaustion on shorter-term charts, as it goes with the longer-term trend. On a daily close above the $17.25 handle, I would have to rethink this scenario though.
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.
