Following in Gold’s footstep’s, the price of Silver has not stopped to rest and instead have continued in what we see today is a slight breakaway from the major trend line that divides the bearish zone into a new bullish zone. The current Silver price had spiked on the H4, exceeding the daily red channel resistance and previous high of <>14.63ish. On the very short M15 term, the price is well into a bullish channel with any form of re-trace having to contend with a minor support at <>15.28ish.
A channel resistance is seen on the M15 chart at <>14.8ish. Fundamentals make silver a good commodity to possess especially as a legacy to pass through the generations, hinted by Adrian Douglas of MarketForceAnalysis.com in an interview, “the US Geological says silver will be the first on the periodical table to go extinct by 2020.” Overall; on day to day terms this week, the current consensus for SILVER is a full 3/3 bullish bias. Still on the lookout into next week for a major re-trace towards the benefit of silver buyers here.
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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