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Silver Nears Its High for The Year After Breaking $37 An Ounce
Silver shows a clear uptrend on the hourly chart as it recorded higher highs and higher lows. Recently we saw a double top formation on the chart indicating difficulty for prices to continue going higher. Price has pulled back below short-term moving averages MA(5) and MA(10), and is now hovering near 30-period moving average. Moving averages are starting to flatten and converge indicating indecisiveness. The long-term trend of silver remains bullish despite the current minor bearish correction. A break above the recent double top at $37.21 could open the door for the precious metal to head towards $38. Nasdaq ... (full story)
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- Jul 8, 2025 7:13am Posted byTechnical Analysis175
