Silver Is Climbing

Silver was moving to the downside for a month until it finally reached the support at 15.80, which coincides with (MA)89 on the daily time-frame and could not break below that level. There it formed a rather spectacular hammer candlestick on the weekly time-frame and started climbing again, breaking above the (MA)89 at 16.50 on the same time time-frame with ease. Today silver continued moving to the upside, and although currently it is testing the resistance at 17.30 I think that it will most likely be able to break above that level and eventually reach the next resistance at 18.00, which is also the previous high. Of course, it will have to break above said previous high in order to confirm the continuation of the overall bullish trend.