Silver has been trading in a higher top higher bottom formation signifying uptrend; however it has witnessed some correction in the near term. It currently stands at the 23.8% retracement level of the rise experienced from 31st March to 18th May indicating a rebound in the offing. It would be prudent to say that silver could rebound towards $28.10 and $28.60 while it sustains above $27.15.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.