• 55 mins COVID Has Sparked A Surge In Cybercrime
  • 7 hours Precious Metals Bulls Still Have Plenty Of Room To Run
  • 1 day The U.S. Has The Tech To Go Green, But Will It Use It?
  • 1 day Massive Losses Force Russian Commodities Giant To Slash Dividends
  • 2 days Markets Up On Stimulus Hope
  • 2 days UK To Invest In Europe's First Geothermal Lithium Recovery Plant
  • 3 days TikTok Takes Center Stage In US-China Tech War
  • 3 days Are Semiconductor Stocks Overvalued?
  • 4 days Jobs Report Doesn’t Say Much Amid COVID Uncertainty
  • 4 days Crypto FOMO Heats Up As Bitcoin Climbs Above $11,000
  • 5 days Aluminum Is Bouncing Back In China
  • 5 days The Deep-Sea Mining Debate
  • 6 days Markets Trending Down Despite Tech Blow-Out
  • 6 days Big Oil Battered On Dismal Earnings
  • 7 days Russian Billionaire Bails On Mid-Sized Gold Miner
  • 7 days Gold Stocks Gear Up For A Big Autumn
  • 8 days America Is Looking To Bring Nuclear Power To Space
  • 8 days What Is Behind Gold's Astonishing Rally?
  • 9 days Stocks Tumble On Brutal Economic Report
  • 9 days Kodak Soars By 400% After Trump Bump
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Trading On The Mark

Trading On The Mark

Trading On The Mark

Our work is grounded in several technical methods. We make use of Elliott Wave, Gann techniques, Fibonacci relationships in price and time, cycles, and other…

Contact Author

  1. Home
  2. Markets
  3. Other

Looking up for Silver

We still favor higher during the next two months for precious metals, although we acknowledge that the choppy action of recent months has made the trade difficult for bulls. The difficulty of getting price to move out of its range is consistent with the idea that the move toward the next cyclical high is a corrective one.

Silver appears to be establishing the lower edge of a channel as a support area for the next advance. As we have shown on the weekly chart, likely targets for upward wave (c) of B are in the vicinity of $19.60 to $20.80. Depending on time, that area could also represent a test of the upper range of the channel.

Silver Futures Weekly Chart

Silver also has been contending with geometric resistance on a daily chart, but there are support levels nearby that we believe should hold.

 


Sign up to receive five free samples of our subscription posts, and we will send you a chart showing what to look for with silver on a daily time frame.

 

Back to homepage

Leave a comment

Leave a comment