Daily Market Comment – Dollar holds firm after gains as stimulus eyed; Reddit frenzy eases

Posted on February 2, 2021 at 10:06 am GMT

Dollar approaches 2-month top as stimulus hopes push up yields, euro falters Stocks rise again as Wall Street rebounds, retail craze cools, silver plunges Aussie bounces back, shrugs off surprise QE boost by RBA A dollar comeback? The US dollar appears to be on the rise again, mirroring a similar upward drive in 10-year Treasury yields in recent days. Expectations that the United States is moving closer to another big stimulus package lifted the greenback to near 2-month highs against [..]


Technical Analysis – Silver flies to 8-year high, but struggles to claim 2020 top

Posted on February 1, 2021 at 10:53 am GMT

Sliver opened 4.5% above last week’s closing price on Monday and on the top of January’s peak of 27.91 before accelerating towards a new 8-year high of 30.07. Despite the fast rally, the price seems to struggle to surpass the 2020 peak of 29.83, while not far above today’s peak, the 50% Fibonacci retracement of the 2011 downtrend at 30.70 could be a bigger challenge. With the RSI entering the overbought zone, there is another reason to keep some caution [..]


Daily Market Comment – Stocks steady as retail traders switch focus to silver

Posted on February 1, 2021 at 9:58 am GMT

Silver rockets higher as it becomes the new target for Reddit traders Equity markets a lot calmer but growth worries, vaccine doubts cap gains Pound leads FX majors, euro tarnished by EU’s vaccine mess Retail investors pile in on silver as Reddit frenzy continues The war between the establishment on Wall Street and small-time investors is far from over as not only are retail traders still betting against short sellers of GameStop and other Reddit favourites, but they are now [..]


Technical Analysis – Silver regains bullish desire with bounce off 100-day SMA

Posted on December 28, 2020 at 1:35 pm GMT

Silver gapped higher, spiking above the 26.56 resistance today, continuing the recent traction the commodity found off the 100-day simple moving average (SMA). The climbing 200-day SMA is defending the positive structure, while the flattening 100-day SMA, is endorsing waning in the commodity’s improvement. Nonetheless, the slight upturn in the 50-day SMA together with the pickup in positive sentiment in the short-term oscillators are promoting additional advances. The MACD, in the positive region, is holding above its red trigger line, [..]


Technical Analysis – Silver improves above MAs; broader bias neutral

Posted on December 8, 2020 at 4:03 pm GMT

Silver has stalled its recent propulsion above the simple moving averages (SMAs), as momentum has become muted. The climb from the two-month low of 21.88 appears intact and may receive assistance from the rising 50-period SMA, while the flattening 100- and 200-period SMAs back a more neutral picture. The short-term oscillators are reflecting mixed signals in directional momentum. The MACD, in the positive region, remains above its horizontal red trigger line, while the RSI is gradually gliding lower in the [..]


Technical Analysis – Silver crashes by 12%; next support within 23.00-22.20 area

Posted on September 23, 2020 at 11:08 am GMT

Sliver staged a dramatic decline of 12% this week after failing to close above the 20-day simple moving average (SMA). The sell-off has also pushed the price below the 50-day SMA and near the bottom of the Ichimoku cloud for the first time in three months, bringing the case for a downtrend forward. The momentum indicators are painting a gloomier short-term picture as well. The MACD has extended its weakness into the negative area, while the RSI is forcefully falling towards its 30 [..]


Technical Analysis – Silver holds positive compass, despite some weakening

Posted on September 1, 2020 at 1:37 pm GMT

Silver propelled above the 28.46 high, securing the recently acquired ground from the 26.50 mark. Reinforcing this move is the intact bullish bearing of the Ichimoku lines. Looking at the short-term oscillators, positive momentum appears to be on track despite the recent reflected weakness in price. The MACD, in the positive section, is above its red trigger line, while the RSI has dipped slightly below the 70 level. Additionally, the stochastic lines have yet to confirm a bearish shift in [..]


Technical Analysis – Silver repeats July’s bullish dynamics

Posted on August 6, 2020 at 12:26 pm GMT

Sliver is repeating July’s dynamics as it stubbornly pushes for fresh highs this week. The price found new buyers and hit a fresh five-year top at 28.29 on Thursday after crossing above the 38.2% retracement level of the 2011-2020 downtrend. The metal is already up 14.5% so far this month. Although the market is trading in overbought terittory in all timeframes, the momentum indicators have yet to show signs of weakness, keeping the risk tilted to the upside. Specifically, in [..]


Technical Analysis – Silver rallies like there is no tomorrow; bias cautiously bullish

Posted on July 22, 2020 at 2:40 pm GMT

Silver accelerated like there is no tomorrow to a seven-year high of 23.00 in just two days, and after breaching a soft descending trendline and the 19.63 peak from September 2019. The staggering move drove the RSI and Stochastics to overbought territory, hence downside corrections should not be surprising in the short-term. Still, the industrial metal managed to secure significant ground and put itself back to a positive path,  and any pullback should be substantial in order to push the [..]


Technical Analysis – Silver bulls meet long-term trendline, but not ready yet to give up

Posted on July 3, 2020 at 10:34 am GMT

Silver attempted to break the upper border of the neutral zone it has been ranging within this week, but its efforts proved unsuccessful as the trendline joining the peaks from September 2019 defended the bears once again at 18.42. Hence, the short-run risk is looking neutral-to-positive at the moment and another retest of the soft downward-sloping trendline is likely. Particularly, a decisive close above the 18.65 barrier might be what the bulls are eagerly waiting for to rally towards the three-year [..]

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