Friday, March 2, 2018
Analysis on silver
The
price of silver has a very tight correlation with the price of gold. Both
precious metals are affected by the Dollar, due to the fact that both are
quoted in Dollars in the international markets. The same volatility that we
have seen on the Dollar index is reflected on the price of silver. On the daily
chart of silver we can see that the instrument fell to the 16.14 level, but it couldn’t
reach the 16.00 level. On the chart we can also see a well-defined bearish
trendline that has not been broken up to now and it is showing us that the
bearish trend in the short term is still in place, despite the current
pullback. However, if the price manages to break that trendline to the upside,
then its 200 day EMA (blue line) may act as resistance, followed by the 17.00
level. Above the 17.00 level, its next resistance could be the peak at the
17.67 level. Below the 16.00 level, its next support could be the low at the
15.59 level.
Subscribe to:
Post Comments (Atom)
WTI oil at the 200 day EMA
WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...
-
Great events, great Webinars during this month of November by ActivTrades. Paul Wallace will be conducting an interesting event on Thursday... -
The Dow Jones industrial index reaches for the first time in its lifetime the 20000 points, prolonging what it has come to be known as “the ... -
The EUR/USD has made a very good bearish retracement from the 200 day EMA around the 1.0770 level, which has taken it below the 1.0700 leve...
Sideways consolidation continues for now.
ReplyDeleteGood take on markets, really insightful.
ReplyDeleteLet's see how it will develop next week.
ReplyDeleteIt can be developing a double bottom pattern!
ReplyDeleteTaking note on these levels,thank you!
ReplyDeleteIt seems to have found some support!
ReplyDeleteGood analysis.
ReplyDeleteInteresting levels to be watchful of, thanks for the info.
ReplyDelete