Silver markets initially fell on Tuesday but found enough support at the $16.50 level to turn around and a break above the $17 level. I know believe that
Silver markets initially fell on Tuesday but found enough support at the $16.50 level to turn around and a break above the $17 level. I know believe that the $17.25 handle is the “ceiling”, but if we can break above there I believe that Silver markets will continue to go higher. The candle certainly looks very bullish, so I think this is a real possibility. However, I’m going to wait to see how long the market can hang above there if we do breakout, and on a daily close unwilling to start buying. Alternately, signs of exhaustion are sold and I will be aiming for the $16.50 handle again.
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.
