The price of Silver (in USD) has left the ascending channel, tested the next fib retracements (one coming from dec 2015 in blue, the other recent from may 2019 in violet). This level has been and is still a strong resistance and we´ll see if the bulls will have enough strength to break through.
After Silver has re-entered the parallel channel and touched the lower limit it turned and is now on the lower side of the positive trend channel.
RSI also has turned and could signify new gains. MACD is in bullish terrain but the trend is negative. One has to take in consideration, that MACD always has a significant delay. I take this indicator only for confirmation.
With Gold (orange line) also regaining force I can imagine that Silver will recover on this level. So the bullish trend isn´t over.
This is no trading advice!!
After Silver has re-entered the parallel channel and touched the lower limit it turned and is now on the lower side of the positive trend channel.
RSI also has turned and could signify new gains. MACD is in bullish terrain but the trend is negative. One has to take in consideration, that MACD always has a significant delay. I take this indicator only for confirmation.
With Gold (orange line) also regaining force I can imagine that Silver will recover on this level. So the bullish trend isn´t over.
This is no trading advice!!
Trade active:
Silver has been too weak and so it dumped out of the ascending trend channel. The next support is a fib retracement, resulting from the last rally.
MACD has turned (just triggered on 4h-basis).
Silver has been too weak and so it dumped out of the ascending trend channel. The next support is a fib retracement, resulting from the last rally.
MACD has turned (just triggered on 4h-basis).