Silver markets rallied initially during the day on Friday, but found enough resistance at the $17.30 level to turn around and reach towards the $17
Silver markets rallied initially during the day on Friday, but found enough resistance at the $17.30 level to turn around and reach towards the $17 handle. If we can break down below the $16.90 level, we could probably go down to the $16.65 handle. Alternately, if we can stay above the $17 level, then the market will probably continue to go towards the $17.25 level. Either way, this is a very volatile market, but overall it looks as if we are trying to build up enough of bullish pressure to continue higher. With this being the case, it’s very likely that you will be best served trading the market in small volume, as opposed to a larger position.
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.
