Silver markets fell during the course of the day on Friday, dropping well below the $15.00 level in the process. This was accelerated by the fact that the
Silver markets fell during the course of the day on Friday, dropping well below the $15.00 level in the process. This was accelerated by the fact that the Nonfarm Payroll numbers were stronger than anticipated, and as a result the US dollar strengthened quite a bit. Ultimately, it looks as if the $14.50 level will be tested for support, and perhaps broken through. We have no interest in buying silver at the moment, not with the US dollar strengthening the way it has been. Going forward, we believe that a break down below the $40.00 level is catastrophic.
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.
