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.
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.
