On the
daily chart of silver we can see that the price reached the 18.00 level and
from that zone it bounces to the downside. The bullish trend is still in place
on silver, indicated by the angle of inclination of the 55 day EMA and the
separation between the 55 EMA, purple line, and the 200 day EMA, blue line. For
now if the price keeps retracing to the downside, then the 17.00 level may act
as support. Below the 17.00 level, the 16.00 along with the 55 day EMA may also
act as support. To the upside, the latest high around the 18.00 level may act
as resistance again if the price goes back up.
Uptrend still in place.
ReplyDeleteI think first target would be around 16.70.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteVery helpful analysis, thank you.
ReplyDeleteVery informative article, thanks for sharing!
ReplyDeleteInteresting analysis.
ReplyDeleteThanks for sharing your analysis.
ReplyDeleteGood analysis.
ReplyDelete