Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis
Silver daily chart, September 28, 2018

Silver markets broke down during the trading session on Thursday, gapping rather hard. The US dollar strengthened a bit which of course work against silver, and of course we are seeing Gold markets fall as well, which has a bit of a knock on correlation when it comes to this marketplace. Overall, I believe that there are buyers waiting below, especially down at the $14 region which we have seen more than one bounce from that area on the longer-term chart. I do believe in silver over the longer-term, but clearly right now we are a bit shell-shocked and therefore I would be cautious about putting on highly levered positions. I think that overall we should continue to see a lot of noise in this market, but as we have fallen so hard in the short term, I don’t have any interest in shorting this market. In fact, the closer we get to the $14 level of the more likely I am to go long on a “flyer.”

Know where Silver is headed? Take advantage now with 

75% of retail CFD investors lose money

The $14.50 level above has shown itself to be very resistive, but that’s nothing new. I believe that we continue to bounce around and show signs of volatility in this market, and I think that should continue to be overly difficult to hang onto a trade. If you do wish to buy silver like I do, I buy it in its physical form for the longer-term. I’m not saying we can’t buy silver undelivered market, but I need to see a closer to major support in order to feel comfortable. As far shorting is concerned, unfortunately that trait has already passed.

SILVER Video 28.09.18

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.