Where Will Silver Price Go by the End of the Year?

Google+ Pinterest LinkedIn Tumblr +

In the current situation, it is possible to build two descending channels with the same slope. It can be seen that the price recently pushed off from the upper green bound, but the price continues to be within the bounds of the smaller channel.

If the growth continues in the near future, and we see a break of the resistance of 18.028, then the way may open for the bulls in the direction of the next resistance level of 18.763, which is on the upper green bound.

However, if the bulls are unable to find strength for an upward movement, the market could expect a bearish trend and a break of support of 17.333, which is on the red moving average. In this case, the decline will continue to the 16.226 area, i.e. the support level which is on the lowest green wall.


About Author

Leave A Reply