Silver markets initially fell during the week but found enough bullish pressure by the end of it to form a hammer near the $17 level. If we can break
Silver markets initially fell during the week but found enough bullish pressure by the end of it to form a hammer near the $17 level. If we can break above the top of the candle, I think that the market will probably test the $17.50 level, and then eventually the $18 level. I think that the $16.50 level underneath should be massively supportive. If we break down below there, then the market probably tests the $16 level underneath, and then eventually the $15 level. Overall, I think this will be a very volatile market, and therefore difficult to trade. I would advise using very little leverage.
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.
