Silver Follow Up & Future Predictions For 2020 & 2021 – Part I
Updated
Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8.
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $25 - $24 - $23.
According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.
For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.
Monday, Dec 21, 2020:
Wednesday, Dec 23, 2020:
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8.
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $25 - $24 - $23.
According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.
For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.
Monday, Dec 21, 2020:
- 12:00 - Gold Index
Wednesday, Dec 23, 2020:
- 3:00 - API Weekly Crude Oil Stock
- 21:00 - Crude Oil Inventories, EIA Refinery Crude Runs (WoW), Crude Oil Imports, and Cushing Crude Oil Inventories
- 21:30: Natural Gas Storage
Trade closed: target reached
The first target of silver has come.
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