Silver markets went back and forth during the course of the week, showing quite a bit of volatility. The $16.50 level below offers quite a bit of support,
Silver markets went back and forth during the course of the week, showing quite a bit of volatility. The $16.50 level below offers quite a bit of support, but the $17 level above continues to be resistance. This neutral candle should continue to show how choppy this market is but I believe eventually the sellers will continue to jump into the market based upon the fact that the US dollar has been strengthening. A breakdown below the $16 level should send this market even lower and towards the $15 level.
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.
