The silver markets as you can see tried to rally during the course of the day on Friday, but failed as the sellers continue to offer quite a bit of
The silver markets as you can see tried to rally during the course of the day on Friday, but failed as the sellers continue to offer quite a bit of pressure to the marketplace. That being the case, the market looks as if that type of pressure will continue, and we believe that the $15 level will be targeted given enough time. Ultimately, it is not until we close above the $18 level that we would consider buying silver, and even then would have to rethink the entire position. At this point in time though, it’s very likely that we will go sideways in the next several sessions.
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.
