By FXEmpire.com
The silver markets had a negative session on Monday as the markets sold off in the beginning of the day. However, at the end of the session we had seen a nice bounce, and the candle for the day is a hammer. The $28 level looks as if it wants to support the market, and as a result it is likely that we see continued gains in this commodity.
However, the downtrend is strong now, and this is more than likely a bounce at best. Because of this, we are looking at the next major resistance level at $30 to sell weak candles. The resistance area runs all the way to $31, and it isn’t until we have a nice strong daily close above that level that we would sell this market. A break of the bottom of the Monday candle would also be a massive sell signal as well.
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Originally posted here
