The Silver markets pulled back initially on Wednesday, testing the $17 level for support. By doing so, we bounced and formed a hammer, which of course is
The Silver markets pulled back initially on Wednesday, testing the $17 level for support. By doing so, we bounced and formed a hammer, which of course is a bullish sign. However, I want to see this market break above the $17.25 level to continue going long. If we do that, the market should continue more of an uptrend type of move. If we breakdown below the $17 level, the market should then drum to the $16.50 level. Ultimately, this is a market that will show quite a bit of volatility, and of course should deal with the influence of the US dollar.
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.
