Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Silver daily chart, August 07, 2018

Silver markets pulled back a bit during the trading session on Monday, dropping $0.20 initially, but then found a bit of support near the $15.28 level. There was a significant rally from just under this level a couple of days ago, so it makes sense that value hunters could be coming back. However, silver is a very choppy and difficult market to trade at times, and it’s very expensive if you are in the futures market. Because of this, you need to find a way to play the silver market for value but with a low amount of leverage.

Know where Silver is headed? Take advantage now with 

75% of retail CFD investors lose money

CFD markets could be an excellent way to play this market, just as options could be in the futures market if you have the rightsizing. Buying the SLV ETF could be a solution as well, if you’re looking for a longer-term investment. At this point, I do recognize we could go lower but I would be a bit cautious about shorting with size, because we are getting close to the bottom of the longer-term support on the weekly and monthly chart. Overall, I’m bullish longer-term, but I also recognize that the US dollar needs to calm down before silver or gold could make some type of bullish move to the upside. In the meantime, I would expect a lot of choppiness, but I also think that there’s more risk to the upside than down at these levels.

SILVER Video 07.08.18

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.