Silver markets rolled over a bit during the day on Friday, and formed a shooting star on the weekly chart. As Silver has gotten a boost from a “risk off”
Silver markets rolled over a bit during the day on Friday, and formed a shooting star on the weekly chart. As Silver has gotten a boost from a “risk off” trade, it’s likely that the market may continue to find softness. If we can break down below the $17.50 level, I think that the market will go down to the $17 level. As far as buying is concerned, I would need to see a clearance of the $17.80 level. This market has gotten a bit ahead of itself over the last several weeks, so a pullback is probably going to be healthy.
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.
