Trade Silver Spot CFD
Silver technical analysis over the medium-term shows that a large bullish pattern is still valid, despite the recent breakout down move towards the $16.40 level.
The daily time frame clearly shows a large, and crucially valid, inverted head and shoulders pattern with over $5.00 of upside potential.
As long as the $14.00 level is defended the bullish structure of the pattern remains valid. A rally towards the $21.00 level would confirm an up move over the medium-term towards the $28.00
Silver short-term price trend
Silver price analysis over the short term shows that bears are in control while price continues to trade above the $17.70 technical level.
The lower time frames currently show that last week's drop invalidated a bullish reversal that had been forming over the last few months.
The daily time frame clearly shows a large, and crucially valid, inverted head and shoulders pattern with over $5.00 of upside potential.
As long as the $14.00 level is defended the bullish structure of the pattern remains valid. A rally towards the $21.00 level would confirm an up move over the medium-term towards the $28.00
Silver short-term price trend
Silver price analysis over the short term shows that bears are in control while price continues to trade above the $17.70 technical level.
The lower time frames currently show that last week's drop invalidated a bullish reversal that had been forming over the last few months.
Disclaimer
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.
Disclaimer
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.