Silver’s
move to the upside began a little over a week ago, after the precious metal
bounced off from 16.15, but it finally found some resistance at 16.95. The
precious metal formed a shooting star candlestick at that level on the
four-hour time-frame, which was a good signal for the move to the downside that
followed. Currently Silver it testing the support at 16.60. A breakout below
that level will probably lead to a further move to the downside towards 16.40
or even towards the last low at 16.15. On the other hand, if it eventually
breaks out above 16.95 it could rally towards 17.20 or even towards the last
high at 17.70.
I think it may start moving north.
ReplyDeleteWe might see a deeper downward correction.
ReplyDeleteValuable information, thanks!
ReplyDeleteI will pay attention to any further development.
ReplyDelete