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
EUR/USD
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
Oil - US Crude
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
Wall Street
Bearish
Gold
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
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
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
More View more
Real Time News
  • $USD | US Dollar Outlook - via @DailyFX "The US Dollar looks primed for heightened volatility this week as election risk intensifies and key themes like stimulus talks, equity earnings, and COVID-19 restrictions exacerbate uncertainty." Link to Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/10/26/usd-price-outlook-us-dollar-in-the-hot-seat-as-election-nears.html https://t.co/B6HS0ecNPD
  • There are some major economies set to update on the health through the third quarter this week. The US and Eurozone are later this week, but South Korea is due to report this morning. When was the last time you took a look at the $USDKRW? https://t.co/UQLHfonxnO
  • Heads Up:🇳🇿 Balance of Trade (SEP) due at 21:45 GMT (15min) Previous: N$-353M https://www.dailyfx.com/economic-calendar#2020-10-26
  • The Euro remains the largest long by some margin, despite investors trimmed their bullish bets yet again. While the blue wave election trades are USD negative. Get your market update from @JMcQueenFX here:https://t.co/FxzsRmXYVN https://t.co/V4n7ncl1WA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.10% 🇳🇿NZD: -0.13% 🇬🇧GBP: -0.16% 🇨🇭CHF: -0.40% 🇪🇺EUR: -0.43% 🇨🇦CAD: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YlP6D1tUc2
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: -0.03% Oil - US Crude: -0.08% Silver: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4D7w33mAud
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.86%, while traders in NZD/USD are at opposite extremes with 73.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/48N5RecRwt
  • RT @Nadex: Will the Dow be bullish or bearish after Nov. 3? Make your prediction today for a chance to win $5,000.* https://t.co/EXtYKMxrrW…
  • Australian #Dollar Forecast: $AUDUSD Grinds into Downtrend Resistance- #Aussie Levels - https://t.co/Y4oiWHaE6l https://t.co/GYpXhkKJIo
  • US Equity Update (Monday Close): $DJI -2.28% $SPX -1.86% $NDX -1.61% $RUT -2.15% $VIX +17.79%
Silver Prices Bouncing, Testing First Line of Resistance

Silver Prices Bouncing, Testing First Line of Resistance

2017-05-12 12:03:00
Paul Robinson, Strategist
Share:

What’s inside:

  • Silver prices undergoing relief bounce
  • Already facing first line of resistance
  • Watching price action upon tests of levels, looking for 15.64 at some point

See what’s driving precious metals in our quarterly forecast.

From our last update on silver prices: “When will the rout end? At this time, it’s looking like the next spot of potential interest won’t arrive until the December low at 15.64.”

As expressed on Wednesday, selling into the down-move without first seeing a recovery bounce (preferably into resistance) didn’t hold the best risk/reward. We’re now seeing a small bounce unfold, with the first level of resistance, the broken January 2016 trend-line, currently under a retest. Depending on how price action plays out around this line, it could be as it good as it gets for silver before we see lower prices carved out. Ideally, a rejection day (i.e. – key reversal bar, ‘pin’ bar) develops either around the trend-line at hand, or at one of the other points of resistance further up. If the Jan trend-line doesn’t spark selling interest, the next spot to watch for stalling price action is at the March low around 16.84. Beyond there, the July trend-line could become a factor, but it’s quickly losing its influence, and as we said the other it may need to be all-together removed from the chart. With an aggressive recovery, the January trend-line could come into play; at this time, this looks like the less likely scenario. A break below this week’s low of 16.07 should finally lead to the December low at 15.64.

Silver: Daily

Silver Prices Bouncing, Testing First Line of Resistance

Created with TradingView

Paul conducts webinars every week from Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of all upcoming live events.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing 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