Silver markets had a wild ride on Tuesday, breaking well above the $16 level in approaching the $16.50 level. There should be a significant amount of
Silver markets had a wild ride on Tuesday, breaking well above the $16 level in approaching the $16.50 level. There should be a significant amount of resistance in this area though, so I feel it’s only matter of time before the sellers return. On an exhaustive candle, I would not hesitate to sell. It’s not that I don’t think we can go higher, it’s just that there’s a lot of noise all the way to the $17 handling we are in a downtrend after all. A strengthening US dollar could be reason enough for a turnaround.
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.
