Silver markets went sideways over the course of the session on Wednesday, as the $17.50 level continues to offer resistance. This is a psychologically
Silver markets went sideways over the course of the session on Wednesday, as the $17.50 level continues to offer resistance. This is a psychologically important number, and with the metals market cooling off during the day, it makes sense that Silver fell. I believe there is a big “floor” near the $17 level, so if we stay above there, it’s probably a “buy on the dips” market overall. Ultimately, I think that the markets will continue to find plenty of buyers, but the acceleration to the upside will probably cool off. With geopolitical tensions calming down a bit, and makes sense that we may enter a phase of calm.
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.
