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.
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.
