Silver has reached an important resistance: the long term falling trend line! This line is coming from 2011.
A fight between bulls and bears is to be expected at this zone.
If the bears win the price will fall on to the lower limit of the trend channel (14.14$) - where we find also support from a swing trend line. Below that level the price finds another support on 13.91$ (fib retracement Zero and lower limit of the parallel trend channel).
RSI stays in bullish zone and is signalling strength; meanwhile MACD seems to give a new bearish sign.
It would be not too surprising if the bears make it this time.
But in longer term I expect the price to cross the resistance and to reach the circle.
The difference between investing now or investing at prices around 14$ isn´t very much. Some 8% to 12% or so.
This is no trading advice!!
A fight between bulls and bears is to be expected at this zone.
If the bears win the price will fall on to the lower limit of the trend channel (14.14$) - where we find also support from a swing trend line. Below that level the price finds another support on 13.91$ (fib retracement Zero and lower limit of the parallel trend channel).
RSI stays in bullish zone and is signalling strength; meanwhile MACD seems to give a new bearish sign.
It would be not too surprising if the bears make it this time.
But in longer term I expect the price to cross the resistance and to reach the circle.
The difference between investing now or investing at prices around 14$ isn´t very much. Some 8% to 12% or so.
This is no trading advice!!
Trade attivo
Nota
My analysis (see above) is still alive. The figth between bulls and bears hasn´t ended yet. Before making new investments one should wait if the Silver price breaks through the resistance (upper limit of the wedge) or not.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.