The silver markets did almost nothing during the session on Friday. The markets recognized the gap as support, but still remain very bearish overall. The
The silver markets did almost nothing during the session on Friday. The markets recognized the gap as support, but still remain very bearish overall. The $18 level above remains resistive, and we feel that the best move is to either sell, or stay flat. The downtrend continues to be strong and we still believe in charge of the next movement. Because of this, we think that silver will continue to fall, but we do have a longer-term target $15 anyway. It is not until we get above the $18 level that we would even remotely consider buying this market.
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.
