Silver markets had a slightly bullish candle form for the week after initially gapping lower. Ultimately, this is a market that seems to be attracted to
Silver markets had a slightly bullish candle form for the week after initially gapping lower. Ultimately, this is a market that seems to be attracted to the $17 level. I think that the market will continue to be very choppy, and I believe that the $17.50 level above is resistive, while the $16.50 level underneath continues to be supported. Ultimately, the market is going to be very difficult to deal with on a longer-term aspect, so I believe that longer-term charts are probably not tradable currently. I will focus on short-term charts and ignore long-term positions other than perhaps holding physical metal for the longer-term move.
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.
