Silver Technical Analysis

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Silver Analysis (fxempire)

The silver markets fell slightly during the session on Thursday, as the $16.50 level offered resistance. That being the case, it appears that we are going to continue to meander in this general vicinity. With nonfarm payroll numbers coming out today, we believe that will have a major influence on the US dollar obviously, and that of course will have a major influence on the value of precious metals, with silver being no different. Because of this, we are going to avoid this market in the short-term, but will analyze the daily candle once we get it.

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