The silver markets tried to rally after initially gapping much higher during the course of the day on Thursday. However, the market failed to continue the
The silver markets tried to rally after initially gapping much higher during the course of the day on Thursday. However, the market failed to continue the upward momentum, forming a massive shooting star. The gap below could be supportive, but markets tend to hate gaps, and as a result it will get closed eventually. With that, the market still looks to be fairly weak at this point in time, and as a result we believe that selling is the only thing you can do in this marketplace. The US dollar should continue to work against the value of the summer markets anyway, so at this point in time we are fairly bearish.
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.
