It looks like Silver is basing, and could be in a bottoming process. The price of silver failed to record new lows since July of 2013 major low, and despite the recent strong rebound in the U.S. jobs numbers, silver failed to sell-off, that could be telling something new, and price might be discounting new positive developments for the metal.
Technically, the price has broken above its long term bearish trend line that started from April 2011 major high near 50.00, in my view the breakout above this trend line at-least hints for the continuation of this sideways bias, and probably a retest of 25.00 major resistance.
A rally in silver will probably be accompanied by a rally in other metals such as gold.
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Technically, the price has broken above its long term bearish trend line that started from April 2011 major high near 50.00, in my view the breakout above this trend line at-least hints for the continuation of this sideways bias, and probably a retest of 25.00 major resistance.
A rally in silver will probably be accompanied by a rally in other metals such as gold.
Thank you for reading, come Join me at twitter.com/thefxchannel
