Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Silver Prices: Trapped In A Familiar Range

Silver Prices: Trapped In A Familiar Range

Alejandro Zambrano, Market Analyst

Silver prices are trapped in their familiar $13.61 to $14.40 range, and there is little reason to trade unless specifically targeting this range.

With this in mind, we reiterate yesterday’s outlook that range traders would use a rally to $14.25 to book profits on long positions bought near the $13.75 support level. Some range traders may even short near $14.25 with stops above $14.40. Caution is however warranted, as currently the price of gold suggests that silver should be trading at $14.60. In other words, silver may break its range. This estimation is based on a regression analysis using the last 6 months of trading data.

On a break to $14.40, prices may reach the December 7 2015 high of $14.62.

Momentum traders will wait for a break to the $13.61 to $14.40 range.

In the afternoon U.S. Jobless Claims and Philadelphia Fed Index are on tap. Will these move silver prices? I doubt it.

Learn What FXCM’s Most Successful Traders Do on a Consistent Basis, sign up for our free guide here.

Silver Prices | FXCM: XAG/USD

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

Get Alejandro’s daily market update in your inbox, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.