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
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • Canadian #Dollar Outlook: $USDCAD Five Weeks Down, Five Month Low - https://t.co/O1op1wYcdT https://t.co/GaYTjFmjtc
  • White House Economic Advisor Larry Kudlow: -Data suggests economy only needs 'targeted money' -Thinks economy is entering a 'self-sustaining recovery' -Trump 'completely opposes' bailing out states $USD $TNX $SPX
  • FTSE 100 IG Client Sentiment: Our data shows traders are now net-short FTSE 100 for the first time since Jul 20, 2020 when FTSE 100 traded near 6,264.90. A contrarian view of crowd sentiment points to FTSE 100 strength. https://www.dailyfx.com/sentiment https://t.co/iX4wB4HOah
  • Fed's Rosengren says the #Fed has been clear that negative interest rates are unlikely to be used
  • Back from vacation and back on schedule Going live for today's stock market webinar in 10 minutes - https://t.co/rmwDABTiN2 https://t.co/oC3Igu2muT
  • I've seen three more headlines today suggesting that there is significant money still on the sidelined despite the climb in markets. Is the assumption that some small tech milestone or new headline would excite investors to pay record amounts to get into a stretched market?
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.57% 🇪🇺EUR: 0.41% 🇨🇦CAD: 0.40% 🇳🇿NZD: 0.14% 🇬🇧GBP: -0.16% 🇯🇵JPY: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3mZjwCXcwc
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 2.39% France 40: 1.37% US 500: 1.29% Germany 30: 1.14% Wall Street: 0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3rljxp4YdZ
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-12
Silver Prices: Price Action Contracting, Follow the Break

Silver Prices: Price Action Contracting, Follow the Break

2016-08-31 11:06:00
Paul Robinson, Strategist

What’s inside:

  • Silver near-term trend remains pointed lower despite long-term support
  • Triangle developing within descending channel
  • Waiting for a break of the pattern before taking action

In yesterday’s commentary, we noted the conflict between long-term support at hand and the short-term trend which suggested a further drop in silver prices before possibly finding a bottom. Not a lot has changed since yesterday other than the potential for a triangle formation within the downward channel developing on the intra-day time-frame.

A break of a nicely developed triangle would lead to either further downside channel-building by finding support on the lower parallel or a capitulation-style move of the decline dating back to the very beginning of the month.

The height of the triangle formation suggests about a 60 cent move once it breaks. Should it break to the downside, a decline of that size will push silver to the May swing high at 17.99.

Keep in mind, while the trend is lower and suggestive of a continuation lower out of the triangle, these patterns can break in either direction; triangles are simply contractions in volatility indicative of pending expansion. On that note, it is important to wait for the pattern to develop and break, first, before taking an entry.

If the pattern breaks against the trend, then the area between 19 and 19.20 will quickly come into focus as resistance to contend with. This will make for a more difficult trade in the short-run, but be consistent with the current long-term support zone silver is presently in.

For now, we will remain patient in waiting for an outcome to the contraction in price before taking a trade.

Silver 2-hr/Daily

Silver Prices: Price Action Contracting, Follow the Break

Slow late summer trading conditions make for an excellent time to hone one’s skillsets. Check out one of our many free trading guides designed to help traders of all experience levels.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX.

He can be reached via email at instructor@dailyfx.com with any questions or comments.

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


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.