Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Silver daily chart, July 18, 2018

Silver markets broke down significantly during the trading session on Tuesday, as the US dollar strengthened. This was most certainly a negative tone type of session, and of course Silver took quite a bit of selling pressure. However, I think at this point if you are patient enough, you should be able to get silver “on the cheap” somewhere between here and $15.00. Market participants are certainly negative, but I think that the longer-term traders are looking at this as yet another opportunity to pick up silver. When you look at the longer-term charts, you can clearly see that the $15 level underneath is significant support from the longer-term consolidation.

Know where Silver is headed? Take advantage now with 

75% of retail CFD investors lose money

Having said all of that, if the US dollar continues to strengthen, this will continue to wear down the silver market. As for the move during the day on Tuesday, if you are reading this article and not already short of the market, you have missed most of your opportunity. At this point, look for some type of bounce or supportive candle to turn around and start buying again. If you have the ability to buy physical silver for your retirement account, we continue to see a lot of demand underneath, and that should of course offer some hope. Has for shorting, you can do so but I would wait for a significant bounce first, as we have certainly seen an overextension of the bearish pressure during the day. The US dollar is the key here.

SILVER Video 18.07.18

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.