Silver markets went back and forth on Friday, as the $17 level continues to offer resistance. I believe that we are going to continue to see a bit of a
Silver markets went back and forth on Friday, as the $17 level continues to offer resistance. I believe that we are going to continue to see a bit of a downward move, and thus I think a breakdown below the bottom of a hammer for Thursday should send this market to the $16.50 level, and then eventually the $16 level. If we can break above the Wednesday candle, then I believe Silver will go higher but the US dollar continues to work against the value of silver, and I think that will ultimately win.
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.
