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Silver Forecast November 25, 2016, Technical Analysis

By:
Christopher Lewis
Published: Nov 25, 2016, 04:35 UTC

Silver markets when back and forth during the day on Thursday, but you have to keep in mind that it was Thanksgiving Day in the United States, so

Silver daily chart, November 25, 2016

Silver markets when back and forth during the day on Thursday, but you have to keep in mind that it was Thanksgiving Day in the United States, so liquidity would’ve been an issue. Because of this, I don’t read too much into the candle and recognize that we have broken down. Any rally at this point in time will look suspicious, and I believe the sellers will get involved. The gold markets have already broken down, and typically Silver will follow its lead. With this, I believe that the US dollar strengthening continues to work against the value of precious metals.

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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