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Silver Technical Analysis: Double top or new all-time highs ahead?
Silver, much like gold, has been rallying strongly recently with the price now trading near all-time highs. There’s nothing fundamental driving the price action as a short squeeze looks like the most reasonable culprit. We had soft weekly ADP data on Tuesday but if that was the reason, we would have seen a stronger reaction already on Tuesday not the day after. The reopening of the US government will bring back the key US data like the NFP and CPI, and those will be key risk events for silver. Strong US data, especially on the labour market side, should keep weighing on gold as it would keep the market speculating ... (full story)