The silver markets fell during the day on Thursday, but found enough support near the 16.20 level to turn things back around and form a hammer.
The silver markets fell during the day on Thursday, but found enough support near the 16.20 level to turn things back around and form a hammer. Nonetheless, we see this is a market that’s not worth bothering with. Quite frankly we are stuck in tight consolidation, and have been for some time now. We believe that we need to see an impulsive candle in one direction or the other to place a trade, recognizing that the 15.50 level on the bottom is the ultimate “floor” in this market. We also see the 17.50 level on the top as the “ceiling” of the overall market.
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.
