Silver
falls to the 55 day exponential moving average, around the 16.35 during a
bearish pullback. It is possible for that moving average to act as support and
if it bounces to the upside from there, then the price may visit the 17.00
level; however, above the 17.00 level, the 18.00 level could act as a better
resistance for silver. Below the 55 day EMA, its next support could be the
16.00 level. The 200 day exponential moving average may also act as a support
and much lower, the 15.00 level has been acting as a congestion zone.
It's still testing the support.
ReplyDeleteGood analysis, I will keep it in mind.
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteIt could be at a good turning point.
ReplyDeleteThanks for such an informative article.
ReplyDeleteGreat analysis, thank you for sharing!
ReplyDeleteThanks for sharing the analysis.
ReplyDelete