Dangerous Silver Lining

Silver, SI1!, which made its wonderful rally recently, is now under serious headwinds.
Not only is it technically challenged, it is also under pressure from a rising USD, and a strong Gold retracement.

Breaking down from a triangle, with deteriorating MACD, and triggering a Sell signal, silver has a probable support around 23, else should check in at 19. Possible extension to 17.50, about US Elections.

Chart PatternsTechnical IndicatorspreciousmetalsSi1! (Silver Futures)SilverSLVTrend AnalysisUSDDJ FXCM Index

Also on:

Related publications

Disclaimer