Long

Silver (SI) Bottoming on Weekly Chart

Silver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting similar upside but at the very least, a respectable initial upside target in the 18.5-19 zone where previous support had been found in the first half of this year, which will likely coincide with the massive downtrend resistance line (as seen connecting the May 2011 peak to the July 2014 top). Feel free to visit stks.co/h198G for today's technical analysis on GC_F, SI_F, , , , , NG_F, CT_F, ZC_F, ZW_F, SB_F, KC_F.

Website: tradablepatterns.com
FB: facebook.com/tradablepatterns
Stocktwits: stocktwits.com/TradablePatterns
Twitter: twitter.com/chu_darren
Linkedin: linkedin.com/in/darrenchu
YouTube: youtube.com/channel/UCCI1YG-qzDMWg6hzYd8D8kw
Google+: google.com/+Tradablepatternscom

Email: info@tradablepatterns.com

TradablePatterns

Also on:

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.