By FXEmpire.com
Silver markets had a strong day on Friday as the jobs report in America came out strong. This suggests to market participants that the “risk on” trade was coming back into play. With this in mind, the market saw fit to buy up everything that had any type of risk premium to it, and selloff the US dollar on the whole.
With this being said, it should be noted that the precious metals markets – silver included – all rows with the weakening Dollar. Looking at this chart however we’re still within the previous consolidation zone, and see absolutely no reason to be involved. We still see the $25 level below as massive support and the $30 level above as massive resistance. In the meantime, this is a short-term traders market at best and even then be very choppy.
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Originally posted here
