Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis

Silver markets have broken down significantly during the trading session on Tuesday, slicing through the 50 day EMA. The 50 day EMA of course is an area that attracts a lot of attention, and as you can see, we have seen resistance lately. At this point time, the market has broken down through the 50 day EMA, reaching towards the $24 level. The $24 level is an area that has attracted a certain amount of attention, so having said that the market continues to see a lot of questions.

SILVER Video 14.10.20

Looking at the chart, we could be forming a bit of a bearish flag, but quite frankly I think that even if we do break down from here it is likely that the $22 level would offer support, and then of course the 200 day EMA after that. Ultimately, I believe that the “floor in the market” is closer to the $20 level. At this point in time, I think that a lot of people will be interested in picking up value for the longer-term move.

After all, this is all based upon the US dollar at the moment, and people are looking at the central banks around the world ready to flood the markets with liquidity. That brings down the value of fiat currency, and as a result hard assets will more than likely continue to be desired. Ultimately, the market is likely to continue to see a lot of choppy behavior, but from a longer-term standpoint I still believe that we are going higher. Looking for value is the best way going forward.

For a look at all of today’s economic events, check out our economic calendar.

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.