Silver Spot Sets up another PeakCOMEX silver spot is moving sideways with the fluctuation on the 15m timeframe. It started with the descending peaks and after that made three ascending peaks. Then fall again and made a descending peak. Right now, making a descending peak again, and targets are followings $26.460 - $26.430 - $26.360 . It will make more descending peaks and fall up to $ 26.260 .
Silverspot
Silver Follow Up & Future Predictions For 2020 & 2021 – Part IHere 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:
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