Silver: Retraces After Rally

Silver: Retraces After Rally

From dailyforex.com

The 50 Day EMA sits at the $35.48 level below, and is rising, so it will continue to make a lot of sense for traders to look at it through the prism of a trendline. This has been the case for a while, until at least we decided to jump so much higher. The $37.50 level should have a lot of support attached to it, as “market memory” continues to attract a lot of technical traders. This is a market that has been moving on the US dollar weakness for some time, and if that continues to be the case, this should be a market that you watch along with the US Dollar Index overall. This is a great way to play against the ... (full story)

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