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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Low
High
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
Mixed
Gold
Mixed
GBP/USD
Bearish
Low
High
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
USD/JPY
Bearish
Low
High
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.78%, while traders in Germany 30 are at opposite extremes with 75.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qyG3FM0e7r
  • Update on #Cryptocurrencies #BITCOIN +0.95% #BITCOINCASH -1.51% #ETHEREUM +0.76% #RIPPLE +8.21% #LITECOIN +0.83%
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/Wuzmi2C95V
  • Stocks on Wall Street retreated from record highs while Treasury yields climbed following smooth bond auctions. The Hang Seng and ASX 200 indexes are poised to gain slightly ahead of Chinese trade data. https://www.dailyfx.com/forex/market_alert/2021/04/13/SP-500-Pauses-Record-Rally-Hang-Seng-and-ASX-200-Drift-Higher.html https://t.co/elDSHDBIgJ
  • Wall Street Futures Update: Dow Jones (+0.03%) S&P 500 (+0.01%) Nasdaq 100 (-0.01%) [delayed] -BBG
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/ns6TUdfkEA
  • Semiconductor shortage labeled as a top and immediate priority for President Biden - The White House
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/eWXK8yCaI0
  • 8 out of 11 S&P 500 sectors ended higher, with 62.6% of the index’s constituents closing in the green. Consumer discretionary (+0.56%), real estate (+0.55%) and consumer staples (+0.45%) were among the best performers, while energy (-0.94%) trailed behind. https://t.co/6ld01hQLRm
  • 🇳🇿 Electronic Retail Card Spending YoY (MAR) Actual: 5.1% Previous: -5.3% https://www.dailyfx.com/economic-calendar#2021-04-12
Silver Prices: Nothing to the Left Until 16

Silver Prices: Nothing to the Left Until 16

Paul Robinson, Strategist

What’s inside:

  • Silver dives after failing near July trend-line
  • Broke through support at ~17.11, nothing substantial until around 16
  • Strong trend and overhead levels keep path of least resistance lower

We started Thursday’s post with this, “One of the less dramatic moves following the surprising US presidential victory by Donald Trump was in silver…” It took another couple of days for a violent move to set in, with Friday’s 6.5% drop wrecking all that was accomplished through October into the first half of November. The decline began from just under the important July trend-line, which has kept the trend lower in recent months. The US dollar continues to rock-and-roll, making life tough for those long of precious metals. Keep an eye on the US Dollar Index (DXY) as it trades around 100, a level it has peaked at on two occasions – March and December 2015.

The Friday/Monday decline put silver below the October low and support level running back to June (~17.11). As long as it stays beneath this area of support turned resistance, the path for lower prices is fairly clear. Looking to the left, there is no substantial support until silver reaches down to around the 15.80/16 level, where we have a clear inflection zone going back better than a year.

If silver were to get a bump back above the October low, the trend and congestion from the October triangle should keep a lid on the metal on any minor advance above. At this time, the 17.30/90 region looks to be about as far as a bounce could carry before finding sellers again.

For now, we will focus on the short-side of the tape until further evidence suggests the current downdraft is over. Join me for tomorrow's webinar at 10 GMT where I will discuss silver and other markets in detail.

Silver: Daily

Silver Prices: Nothing to the Left Until 16

Created with Tradingview

Check out our Forecasts and Trading Guides designed for traders of all experience levels.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please sign up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES