The silver markets initially tried to rally during the week, but ran into a bit of resistance at the $17 level. By doing so, we ended up forming a
The silver markets initially tried to rally during the week, but ran into a bit of resistance at the $17 level. By doing so, we ended up forming a shooting star which of course is a very negative sign. A break down below the bottom of that candle could send this market looking for the $15.75 level again, and perhaps even lower than that. Alternately, a break above the $17.20 level would be extraordinarily bullish. Pay attention to the US dollar, as this market tends to move in the opposite direction overall.
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.
