Silver markets initially tried to rally at the open on Monday, but struggled at the $14.50 level to end up falling and form a shooting star again.
Silver markets initially tried to rally at the open on Monday, but struggled at the $14.50 level to end up falling and form a shooting star again. Ultimately, that means that the market is trying to break down below the support that has been holding it off recently. If we can break down below the $14 level, silver markets will really could fall apart. A break above the $14.50 level would be rather strong though, and we would have to start thinking about buying at that point. At this moment though, silver looks like it’s in serious trouble.
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.
