A look at the CCI indicator supports this thesis, with a reading of 65.41 indicating there is some way to go before silver becomes overbought at 100.00. At its current price just shy of 20.00, silver still has some way to go before it reaches the top of its range. This chart reveals that silver has traded within a relatively tight range between 19.00 and 20.50 for the past two months. Risk_Aversion_Boosts_the_Price_of_Silver_But_Not_the_Long_Term_Trend_body_silverxagusddailychart.png, Risk Aversion Boosts the Price of Silver, But Not the Long Term Trend If current resistance holds however, the initial downside target will be the 19.50 level and, beyond that, last week's resistance range at 19.00-19.12. If the Silver price breaks 20.00, expect a bullish continuation at least as far as 20.25 and likely through to 20.38-20.50. Shorter-term swing traders will look to price action around this level to determine whether a long or a short trade is in order. As the chart shows, the price has encountered substantial resistance around this level, initially breaking as high as 20.25 before being sold back down to 19.75. Since then, a sustained rally has driven price up to where it currently resides, just shy of 20.00 flat. Silver prices bottomed out around the 19.00 flat level towards the end of last week. This gives us a "zoomed in" view of the recent rise. Risk_Aversion_Boosts_the_Price_of_Silver_But_Not_the_Long_Term_Trend_body_silverxagusdfourhourchart.png, Risk Aversion Boosts the Price of Silver, But Not the Long Term Trendįirst, take a look at the four hour chart.
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