By FXEmpire.com
The silver markets fell for much of the Wednesday session as the Dollar continued to climb for the day. However, the later hours of US trading suddenly felt bullish of risk appetite, and as a result the silver market recovered a bit to form a hammer. The $27 level looks to be fairly strong support, and the market looks a bit like a bottoming process, but we feel that eventually this market gives way. In the meantime, we think the $30 level will continue to hold as resistance at this point, and would aggressively sell in that area on weak price action. With this in mind, we prefer to sell this market if it does rally.
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Originally posted here
