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Silver Forecast June 16, 2016, Technical Analysis

By:
Christopher Lewis
Published: Jun 16, 2016, 04:38 GMT+00:00

The silver markets rose during the course of the session on Wednesday, breaking above the $17.40 level. It looks as if we are going to continue to try to

Silver daily chart, June 16, 2016

The silver markets rose during the course of the session on Wednesday, breaking above the $17.40 level. It looks as if we are going to continue to try to grind higher, and I believe at this point in time the pullbacks will be looked at as value that traders will take advantage of. Given enough time, it’s very likely that the buyers will return again and again as the US dollar continues to struggle but there are also quite a few other concerns around the world that make buying precious metals attractive at this point.

About the Author

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.

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