Silver markets went sideways initially, but then rallied towards the $18 level. We have seen a significant amount of resistance at that level, so the
Silver markets went sideways initially, but then rallied towards the $18 level. We have seen a significant amount of resistance at that level, so the pullback makes quite a bit of sense. If we can break above the $18 level, I think the market goes towards the $18.50 level. I also see support at the $17.75 level, so expect volatility. Longer-term though, I think the market continues to go higher. Pay attention to the US dollar, as this market tends to move in the opposite direction longer term. Expect volatility, but the market certainly looks healthy.
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.
