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.
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.
