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Silver Forecast November 20, 2015, Technical Analysis

By:
Christopher Lewis
Published: Nov 20, 2015, 05:27 UTC

Silver markets rally during the day on Thursday, but as you can see we are still well below the $14.50 level. That area has been resistive recently, and

Silver Forecast November 20, 2015, Technical Analysis

Silver markets rally during the day on Thursday, but as you can see we are still well below the $14.50 level. That area has been resistive recently, and as a result it’s only a matter time before the sellers get involved in our opinion. The US dollar fell significantly during the day, but ultimately we think that is a simple pullback in general. With that, stronger US dollar markets should continue to pressure the silver markets to the downside. If we can finally break below the $14 level, this market could come undone.

 

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About the Author

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.

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