Silver records new high, advancing above descending triangle

From xm.com

Silver is having one of its best trading sessions of this year, gaining strong momentum above the descending triangle that was holding since April 2017. This week the price continues to attract buying interest, with the price registering a fresh five-month high of 16.10. The technical indicators are still located in bullish area, with the MACD stretching further above its red trigger line and the RSI moving above 70. Yet the latter could also be an indication that the rally is overdone, and hence negative corrections should not be a surprise in the coming sessions. The 16.17 resistance level could be a trigger point ... (full story)