FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
100,765,656Confirmed
2,163,733Deaths
72,777,496Recovered
Fetching Location Data…
Advertisement
Advertisement
Christopher Lewis
Silver

Silver markets have gone back and forth during the trading session on Thursday, as we continue to see the 50 day EMA start to cause a bit of resistance. That being said, as we head into the Non-Farm Payroll number on Friday, that could open up this market for a bit of volatility, as the US dollar will of course move quite drastically due to the fact that the employment figures are such a major component of economic strength. That being said, the Federal Reserve is going to be very loose for a very long amount of time. That being said, I think it is only a matter of time before we go higher due to the fact that the liquidity measures will continue to support the idea of further upward pressure on precious metals in general.

SILVER Video 04.12.20

Looking at the market, it is likely that we are going to go looking towards the $26 level, as the market is most certainly stuck in a major consolidation area. Nonetheless, we are in a strong uptrend, and I think that continues to be the way you need to look at this market. On pullbacks it should be thought of as a buying opportunity, as silver certainly has a lot of buying pressure underneath and ultimately this market should go back towards the $30 level. This is not to say that you should jump into the market with both feet, just that longer-term we should continue to see a nice move. At this point, the 200 day EMA seems to be offering significant support.

Advertisement
Know where Silver is headed? Take advantage now with 

75% of retail CFD investors lose money

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

Advertisement
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
IMPORTANT DISCLAIMERS
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.
RISK DISCLAIMER
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.
FOLLOW US