The silver markets as you can see did very little in the session on Thursday, testing the $17.00 level. That area of course has been supportive recently,
The silver markets as you can see did very little in the session on Thursday, testing the $17.00 level. That area of course has been supportive recently, so we believe that this market will more than likely bounce slightly. However, we also recognize that the $17.50 level is significantly resistive, and as a result we think that shorter-term trading will continue to be the way going forward. With that being said, we would anticipate that the Friday session might be a little bit positive, but we believe that the downtrend is still widely in effect, and as a result we are much more comfortable selling closer to the $17.50 handle.
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.
