Silver markets tried to rally during the week but turned around to form a shooting star. The shooting star since above the $17.50 level, so if we break
Silver markets tried to rally during the week but turned around to form a shooting star. The shooting star since above the $17.50 level, so if we break down below there I think we will get a pull back to the $17 level. Alternately, if we can break above the $18 level, we should go looking towards the $18.50 level. The market is a bit overextended, and had recently rally due to a “risk off” trade, but that seems to be unwinding. I suspect that we are going to see selling pressure sooner rather than later.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
