Silver markets initially tried to rally during the day on Tuesday, but struggled just below the $14.40 level. With this, the market looks as if we will
Silver markets initially tried to rally during the day on Tuesday, but struggled just below the $14.40 level. With this, the market looks as if we will continue to struggle over the longer term, so we are selling every time we get a rally on a short-term chart. The $14 level below should continue to offer support, but eventually we will break down in our opinion. If we break down below the bottom of the hammer from the Tuesday session, we believe this market falls apart and reaches towards the $12 handle below.
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.
