Buy [Start] -> 39.70
Buy [End] -> 39.97
Stop Loss -> 39.30
Max Take Profit -> 40.42
Resistance 1 -> 40.30
Resistance 2 -> 40.75
Resistance 3 -> 41.55
Printable View
Buy [Start] -> 39.70
Buy [End] -> 39.97
Stop Loss -> 39.30
Max Take Profit -> 40.42
Resistance 1 -> 40.30
Resistance 2 -> 40.75
Resistance 3 -> 41.55
the pair is trading under level 41.00 , that's mean the down trend is standing and the pair might reach 40.00 , but if the pair succeeded in breaking 41.00 , it will head to 41.20 and then 41.40 .
I expect appreciation of the silver toward the resistance at 40.61. Stochastic left the overbought zone signaling for short, MACD does not give clear signal, MA20 and MA50 cross bullish. Overall, the indicators send contradictive signals.
the chart is showing that the pair has closed it's daily daily under the level of 41.00 , and that's mean that the down trend is still standing and the pair might reach 40.30 and then 40.00
If a M15 close above 40.50 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 39.77 sell only and do not buy. If price closes back above it again do nothing
The range 40.50 and 39.77 is neutral area, any trade done in between is personal decision and not part of this analysis
The Head and Shoulders bottom we began to monitor at the start of the week continues to play out after prices took out the formation’s neckline at $39.82 yesterday. The setup’s measured upside target stands at $42.64
deep losses on S&P 500 stock index futures point to further gains but as noted above, a corrective bounce in risk appetite remains a clear possibility in the absence of major event risk.
the chart is showing that the pair has succeeded in closing it's daily candle above level 42.00 exactly under 43.00 at 42.90 , and that's mean the up trend is still standing and the pair might head to 43.20 and then 43.4
despite silver's increased production (or at least the miners try to) - their price couldn't go much lower. It also explains very well the correlated relationship between oil price (cost of silver production) and silver price.
silver prices starts changes direction again and rose very sharply yesterday to 42.07 as silver price fell very sharply. During August gold price has outperformed silver price as the ratio inclined by 3.4%.