Silver Plunges Faster-Further on USDX Strength to 101.50
The Silver-price I noticed was holding up strong during this week because it's Chart until yesterday (Friday) was much stronger than Gold's chart. But as Gold sold-off on strength of the USDX rebounding to 101.50, as I'd been saying was about to occur, the Silver-price sold off savagely.
This is the hourly chart for Silver.
This is a 5 minute chart of where Shorter's consolidate into positions at Silver's weakness zone.
* I hope this analysis helps you with your own trading.
* Please don't rely solely on my own financial advice or analysis of the Silver-price.
Silverweak
Silver near major support ZoneSilver ending below 50 days EMA of 56557 is not a very good news for Silver enthusiasts. Final support for Silver might be near 55375. Below 55375 Silver may fall to 54202 or as low as 51899. Way up silver is looking little difficult as there are many resistances on the way up starting from 56557. Other resistance on the way up can be 58177 and 59580. If silver does not take support at 55375 and bounce back it slide in silver can be sleek and super fast.