Markets

Trading Forecast Silver

Silver closed lower due to short covering on Monday as it consolidated some of this week's rally. The low-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral to bearish again signalling that additional weakness is possible near-term. If it extends this month's decline, the 87% retracement level of this year's rally crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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