The silver markets had a slightly positive session for Wednesday, but we remain in be consolidation area that we have been in for some time. The $17 level
The silver markets had a slightly positive session for Wednesday, but we remain in be consolidation area that we have been in for some time. The $17 level on the bottom is supportive, and the $17.50 level on the top is resistance. That being the case, the market looks as if it is ready to continue going sideways and as a result we have no real interest in trading this market. We do recognize that overall there is a big downtrend in the summer markets tend to be in at the moment, and as a result we would be willing to sell a break down at a fresh, new low.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
