The silver markets as you can see initially fell during the course of the session on Friday, but found enough support near the $16.60 level to bounce and
The silver markets as you can see initially fell during the course of the session on Friday, but found enough support near the $16.60 level to bounce and form a nice-looking hammer. This hammer of course suggests that the buyers are going to step in for the short-term, and perhaps offer a selling opportunity at a higher level. We do not believe that this market will get above the $18 level, and therefore we will look for selling opportunity between here and there as this market is most certainly bearish. We have no interest in buying.
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.
