Silver markets initially tried to rally on Friday but turned around to fall and form a shooting star like candle. I think that the markets going to continue to reach towards the $17 level where I would anticipate to see quite a bit of support. A breakdown below there will find a mass amount of support down to the $16.50 level in my estimation, so I think that the sellers may be getting close to the end of the downtrend. A supportive candle or a break above the top of the shooting star would have me going long of silver.
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Silver Forecast May 1, 2017, Technical Analysis
Silver markets initially tried to rally on Friday but turned around to fall and form a shooting star like candle. I think that the markets going to
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Christopher LewisSenior Analyst
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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