The Silver markets broke down below the $17 level during the session on Thursday, reaching towards the 16.75 level underneath. I believe we will continue
The Silver markets broke down below the $17 level during the session on Thursday, reaching towards the 16.75 level underneath. I believe we will continue to go lower, perhaps reaching towards the 16.50 level underneath. I believe that if we can break down below the 16.50 level, we should continue to reach towards the $16 level. I’m not interested in going long yet, because the US dollar is of course so much stronger currently that it has been in the past. Silver will continue to be very volatile, but eventually I believe that the sellers come out on top.
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.
