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Silver techincals: Price moves to a new all-time high. What is the next target?
Silver is on the run again with a gain of $1.50 or 2.57% and $59.64. The high price reached $59.74 so far. From a technical perspective, the daily chart shows the price pressing up against a key topside trendline drawn from the October 5 swing high through the highs reached earlier this month (see daily chart below). This trendline has acted as an important barrier, and today’s test will help determine whether buyers have the momentum to shift the broader structure toward a more aggressive upside breakout. Just above that trendline sits the 161.8% Fibonacci extension of the most recent corrective pullback from ... (full story)
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