Silver markets initially tried to rally during the course of the week, but then turned right back around to form a shooting star. The $20 level above
Silver markets initially tried to rally during the course of the week, but then turned right back around to form a shooting star. The $20 level above tends to be a significant barrier, and the fact that we showed resistance here is not much of a surprise. If we can break above the top of the $20 level, the market should continue to go much higher. If we fall from here, I believe that there is quite a bit of buyers below, especially near the $18 level, and think of that as massive support.
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.
