The silver markets initially rallied on Monday, but turned around to form a very resistive looking shooting star. Ultimately, this is a market that will
The silver markets initially rallied on Monday, but turned around to form a very resistive looking shooting star. Ultimately, this is a market that will continue to face headwinds above, and I believe that the $17 level will be a bit of a ceiling at the moment. Keep in mind that the United States dollar continues to strengthen and that of course works against the value of precious metals in general, and of course extends to the silver markets. I believe that we are going to reach towards the $16 level again, and an attempt to break down.
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.
