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.
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.