Silver markets initially tried to rally during the day on Wednesday but found the $14.50 level to be a bit too resistive and we turned back around to form
Silver markets initially tried to rally during the day on Wednesday but found the $14.50 level to be a bit too resistive and we turned back around to form a shooting star as a result. We are towards the bottom of the overall trading range, and it now looks like $14 will be tested. Can break down below there sends this market into unfamiliar territory, albeit bearish territory. We believe that rallies at this point in time should continue to be sold, as soon as we see signs of exhaustion on short-term charts.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
