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.
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.
