Markets

Trading Forecast Silver

Silver closed lower due to profit taking on Thursday as it consolidates some of the rally off this month's low. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews this month's decline, the 87% retracement level of this year's rally crossing is the next downside target.

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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