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Silver Tests Major Resistance
As the turmoil from Ukraine/Russia conflict continues to hit the markets, commodities are bid, pushing most of them to multi-month highs. Silver is no exception. Earlier in the week, silver managed to comfortably break above the key 200-day moving average (the green line), which is currently the significant medium-term support for silver. As a result, dips are expected to be bought as long as it trades above the 200-day average. The next target for bulls could be near 26.40 USD, where the summer 2021 consolidation zone is located. On the other hand, a failure to defend the 200-DMA at 24.20 USD could lead to a decline ... (full story)