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.
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.
