Silver Forecast 30/10: $55 Becomes Resistance (Video)

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MENAFN- Daily Forex) Silver continues to see a lot of pressure, with more selling coming to the forefront on Thursday.SilverThe silver market has been rather noisy during trading here on Thursday as we remain well below the $55 level. For reference, the $55 level is an area I've been watching closely for some time, as it was massive support, but we broke down below it.Top Regulated Brokers1 Get Started 74% of retail CFD accounts lose money The market is likely to continue to see that as an important region. So, any rally at this point in time, I'll be looking to short if we get anywhere near there. That being said, silver looks extraordinarily fragile.I am paying very close attention to the $50 level.I think at this point, with higher rates still being an issue, although they're not as high as they once were, and GDP being hot while PCE continues to be where the Fed had anticipated, there are concerns that the Fed will have to tighten. In fact, the FedWatch Tool right now puts about an 80% chance of the Federal Reserve hiking in December and as much as a 45% probability of it doing so in MarchThis flies in the face of what peo...