CeresTrader

Silver Fails At Top of Range . . . Now what?

COMEX:SI1!   Silver Futures
Silver: Daily Fibs and Indicators: Silver has a bull fib objective that takes it to 28.86, a massive move. It held it's 61.8% line in October 23 and was on it's way until December 23 when it stopped at the high of it's daily range. We traded down early in the year, only to test that high again htis past week. And, we are selling off of it again. We can't trust gold to go higher if Silver doesn't make a new high here. Silver lost it's embedded reading of the past 4 days. Big test for silver is 24.21, the BB midpoint, and the bull fibs from lows. that 23.55 level was resistance and the fact that it's the 61.8% line and support could be very key to support here. IMO, that would be a good place be a buyer for silver.

Message Me to Join My Private, Premium Telegram Signals Channel. Also available for private coaching and trading sessions. t.me/CeresTraderSignals
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.