Never miss a story from Alejandro Zambrano

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Alejandro Zambrano

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Talking Points

  • Silver prices remain in a bullish trend after carving out a low of $15.16.
  • Last week’s high of $15.83 is capping price, but a break to this level may place the February high of $15.97 in focus.

Silver managed indeed to carve out a low near $15.16, which made sense given that the overall trend was bullish and the risk/reward ratio supported a bullish view at the time. See ‘Silver Prices Give Back Gains, But The Trend Remains Bullish’.

However, can traders trust the new swing low of $15.16? At this stage it may be a bit too early to assume the low will hold as price has been trading sideways since February 11. The rationale is that in sideways trading prices tend to have less respect for support and resistance, which may trigger false breaks, hence caution is warranted.

On a break to the new swing low of $15.16 prices may reach the next low in line, which is the March 3 low of $14.87.

On a break to last week’s high of $15.83, the February high of $15.97 may come into focus, followed by the October 15 high of $16.23.

See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

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