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.

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
More View more
Silver Technical Analysis: Positioned to Rally

Silver Technical Analysis: Positioned to Rally

Paul Robinson, Strategist

Silver Technical Analysis:

  • Treading water between neckline of H&S pattern and 200-day
  • Should start to rally soon, 28-30 targeted down the road

Silver is stuck between the neckline of the inverse head-and-shoulders pattern it just broke out of and the 200-day moving average. The consolidation period should end soon, but we will want to see a solid close above the 200-day MA before becoming bulled up too much further.

The size of the H&S formation suggests it could rally to major resistance between the 28 and 30 level. There won’t be cause for real concern unless we see drop back below 24 and the trend-line that connects the head and right shoulder.

For now, staying the course with a bullish outlook.

For the full set of details, please check out the video above…

Advertisement

Silver Daily Chart

silver daily chart

Silver Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES