Silver markets fell initially during the week, but turned around to form a hammer. Ultimately, this is a market that looks like it could bounce but I
Silver markets fell initially during the week, but turned around to form a hammer. Ultimately, this is a market that looks like it could bounce but I recognize that the $17 level above is resistive. The $17.50 level above is also resistive, so at this point I feel that even though we should have a bounce, I’m looking for a resistive candle above in order to start selling. A break down below the bottom of the candle is also a bearish sign, but at this time it looks likely that we will have to you shorter-term charts.
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.
