| The chart of silver at the moment shows that it is poised for a breakout move.
It has failed on a number of occasions recently to close above resistance at $24.40. If we do see it closing above this level that could signal a quick move up to the next major resistance at $26.50. However it is also also finding support from the major upward trend line that has held since the March lows and a break below this could signal a retest of the recent lows (approx. $22.65) and ultimately support further down at $19.50. |
Silver Prices, 2019-2020 - Click to enlarge |
| With the precious metals markets being heavily influenced at the moment by the vagaries of the stock market and the relative strength of the US dollar, any “News-bomb” will have a increased impact on the short-term price action for the white metal. |
Full story here Are you the author?
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
Tags:
