Silver markets went sideways most of the day on Friday, testing the $16.50 level for support. We found it, and it looks as if the market is going to try
Silver markets went sideways most of the day on Friday, testing the $16.50 level for support. We found it, and it looks as if the market is going to try to grind higher. Longer-term, I like silver but I think it is a positive market, so I don’t have any interest in shorting. I believe that if you can be careful, it’s likely that the uptrend should help, and send this market towards the $17 level next. It will be volatile, so be very careful as the choppiness could scare you, but ultimately, we are starting to see significant amounts of 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.
