Silver delivered a monster bullish candle on Tuesday, completing a morning star pattern while smashing through wedge resistance that had capped gains earlier in the week. With RSI (14) setting higher lows and MACD on the verge of a bullish crossover, price and momentum signals suggest a growing risk of a retest of the March 18 high at $34.24.
Silver has a habit of gravitating toward round figures, making any pullback toward $33.50 a potential buying opportunity where longs could be established above with a stop beneath for protection. Resistance may emerge near $34, though $34.24 appears a more meaningful initial target. A break above that could encourage bulls to chase a move toward the October high of $34.87.
If silver reverses back beneath former wedge resistance and holds there, the bullish bias would be invalidated.
Good luck!
DS
Silver has a habit of gravitating toward round figures, making any pullback toward $33.50 a potential buying opportunity where longs could be established above with a stop beneath for protection. Resistance may emerge near $34, though $34.24 appears a more meaningful initial target. A break above that could encourage bulls to chase a move toward the October high of $34.87.
If silver reverses back beneath former wedge resistance and holds there, the bullish bias would be invalidated.
Good luck!
DS
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.