After the target reached today, it got ema 300 rejected. It ended up with silver closing below ema 200. As the inauguration day gets closer, let's see how dollar would move and what impact could be on silver price.
Silver finally broke the resistance. Looks like silver support at around $17. Since the last week of December, silver has made a higher high and a higher low. Let's see how this trend would develop.
As expected, silver retraced back to test the breakout level. Since Friday is coming, it might trigger a profit taking for long-position. The first support would be approx 17.3x and the second one should be approx 17.2x. $17 could be the final one under current circumstance.
Silver bulls have done an amazing job since the beginning of this year. Today silver hit the old trend line. It looks like silver would do some kinda correction before US open. 17.5x (the daily ema 5) should be a support for now. So it would make a room for silver to move up during US session. The higher silver goes, the closer silver would reverse. Let's keep this in mind and open eyes widely. :)
Silver closed below the old trend line but almost got out of the October consolidation area. Could Silver make the final breakout? Let's see how US dollar behaves during Asia and Europe sessions. Good Luck!
Another green day for silver bulls. Yes, got in $18 territory. It looks like the uptrend hasn't done yet. But the resistance could be much solid. Let's see :)
Silver is still in the uptrend. Likely, it could re-test 18.1x on the downside. If it holds, could potentially go up to 18.6x ~ 18.9x area. Just a reminder, President Donald Trump will make his first major address to Congress on Feb 28th.
Silver reached $18 once again. US dollar looks weak after the second vote of health care bill withdrawn. DXY is below 99 (will update the DXY soon separately) Silver could go up to 18.2x ~ 18.3x before profit taking for the March month end. Happy trading!
Silver did a nice breakout. Now 16.9x ~ 17.0x becomes a support. Likely, could see silver going higher after a sideways or a minor correction. It would be great to see September high once again.
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