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Silver Price Forecast: Uptrend Sustained with Bounce off Support

From fxempire.com

{video} Silver peaked at a high of 28.77 last Friday before ending the day in the red with a bearish candlestick pattern. Sellers again dominated today, Monday, as the price of silver fell below Friday’s low of 28.04. However, support was seen at the day’s low of 27.97, leading to a minor intraday bounce. Support was seen around the crossing of two rising trendlines, one is short-term representing dynamic support for the advance from the most recent swing low at 26.02. The other covers a longer time frame beginning from the February 28 swing low. The longer line is of greater significance and the shorter line ... (full story)

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  • Category: Technical Analysis