Trade Silver Spot CFD
Silver technical analysis over the medium-term shows that a large bullish pattern is still valid, despite the recent breakout down move towards the $16.40 level.
The daily time frame clearly shows a large, and crucially valid, inverted head and shoulders pattern with over $5.00 of upside potential.
As long as the $14.00 level is defended the bullish structure of the pattern remains valid. A rally towards the $21.00 level would confirm an up move over the medium-term towards the $28.00
Silver short-term price trend
Silver price analysis over the short term shows that bears are in control while price continues to trade above the $17.70 technical level.
The lower time frames currently show that last week's drop invalidated a bullish reversal that had been forming over the last few months.
The daily time frame clearly shows a large, and crucially valid, inverted head and shoulders pattern with over $5.00 of upside potential.
As long as the $14.00 level is defended the bullish structure of the pattern remains valid. A rally towards the $21.00 level would confirm an up move over the medium-term towards the $28.00
Silver short-term price trend
Silver price analysis over the short term shows that bears are in control while price continues to trade above the $17.70 technical level.
The lower time frames currently show that last week's drop invalidated a bullish reversal that had been forming over the last few months.
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