The Silver markets broke down significantly during the day on Tuesday, slicing through the $17 level. The market continues to see quite a bit of
The Silver markets broke down significantly during the day on Tuesday, slicing through the $17 level. The market continues to see quite a bit of volatility, and I think that as the situation between the United States and North Korea calm down, the drive for safety will put negativity into the precious metals markets overall. The $16.50 level underneath should continue to be support though, and I think that it may take a couple of attempts to break down through it. I think that the $17 level above will continue to be resistive, and any rally between here and there that show signs of exhaustion could be a nice opportunity to start shorting the silver market yet again.
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.