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 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.
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.
