Silver markets initially tried to rally during the course of the session on Friday, but turned back around somewhere near the $16.20 level. By doing so,
Silver markets initially tried to rally during the course of the session on Friday, but turned back around somewhere near the $16.20 level. By doing so, we ended up forming a shooting star which of course is a very negative sign. However, at the same time we can point out that there is significant support just below at the $15.50 level, so it makes sense that perhaps buyers may reenter the market there. Short-term traders may be able to trade this range, but beyond that we don’t see much use for this market at the moment.
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.
