- Analytics
- Market analysis
- Technical Analysis
- Silver Appears Ready to Breakout from the Triangle
Silver Appears Ready to Breakout from the Triangle
Silver moved higher over the last couple of days but failed to follow gold's big bullish movement. It was trading at 0.15per cent stronger during the London session on Wednesday.
The price is now trying to breach the upper line of the triangle pattern, which is currently near 14.800 USD. If bulls are successful, we could see a stronger upside movement, as the trend might switch to bullish again.
The next target could be at 14.95 USD and the targets that may follow are three major resistances. These are 15.10 USD, 15.15 USD - where the 100-day moving average is located - and July and August lows at 15.23 USD. Therefore, bulls will have a hard time of pushing the price above these critical zones.
On the other hand, the support for today's trading is seen near 14.60 and if not held, the price could deteriorate toward the lower line of the triangle formation, which is near 14.48 USD.
Disclaimer:
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
