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.
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.
