Christopher Lewis
Add to Bookmarks

SILVER Video 20.05.20

Silver markets rallied again during the trading session on Tuesday, reaching towards the $18 level again. By doing so, it looks like we could get a bit of a “blow off top”, but that would mean we need to slice through the $19 level, something that will take quite a bit of momentum.

Know where Silver is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

At this point in time, the market is likely to continue to see a lot of buyers longer-term, but we are clearly seen a lot of trouble in this area. I think if that is going to be the case, it is likely that the $17 level underneath will continue to attract a lot of attention. That could be a short-term support level, but then after that the 200 day EMA will be a significant amount of support as well.

Furthermore, the $16 level, at least by the time we get down there, would also features the 50 day EMA. In other words, this is a market that has plenty of support underneath, so I would be cautious about shorting this market but clearly if you are

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