Get started
Silver Futures
Short

Silver Losing Momentum

By Zacmando
In silver, we had a strong move upwards from the 117/OZ range to a high of roughly 19.755/oz. Recently, however, the price has failed to maintain momentum to regain those highs and has steadily pushed lower in an evident regression trend on the daily chart from 05 Sep 2019 to the present. I believe that silver will retest the 117/OZ range, and from there, we will have a stronger confirmation on the short term direction of silver's price. As well the gold to silver ratio rebounded from a yearly low of roughly 1XAU:79.38XAG to currently 1XAU:84.89XAG. In the meantime, I believe silver to be a short trade. However, in the long run, silver seems to be bullish as the gold to silver ratio is at historical peak levels.
Chart PatternsGoldgoldsilverratiogoldtradingTechnical Indicatorsregression-trend-channelSilversilveranalysissilverchartssilverforecastsilversignalTrend Analysis
Zacmando

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.