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.
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.
