Silver markets rallied during the week, breaking well above the $16 level. However, I see quite a bit of resistance all the way to the $17 level above. On
Silver markets rallied during the week, breaking well above the $16 level. However, I see quite a bit of resistance all the way to the $17 level above. On the first signs of exhaustion, we would more than likely see sellers reenter this market. The US dollar is strengthening overall, and that should continue to put pressure on the silver market. I will be looking to the daily charts on signs of exhaustion to start selling yet again as the silver market has been choppy but has had a longer-term negative bias for some time.
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.
