Silver: Anticipate further advance - Natixis
|Micaella Feldstein, Research Analyst at Natixis, suggests that the silver contract has recovered markedly since the end of last December (when it bottomed at 15.70), breaking above important technical thresholds at 16.45 (monthly Bollinger moving average), at 16.79 (daily Bollinger lower band) and at 17.44-17.51 (rising trendline).
Key Quotes
“An upside channel was able to emerge on the daily chart and the weekly indicators have turned around.”
“Considering the above, dips are seen as corrective and we anticipate further advance towards 18.27-18.35 (daily Bollinger upper band) and 18.50 (weekly Bollinger upper band). The clearance of the latter would unleash strong upward potential to 18.85 (declining trendline), the 19 barrier (Fibonacci extension) and 19.36 (Fibonacci extension).”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.