Silver closed higher on Tuesday but remains below the 50% retracement level of the April-May-decline crossing. The mid-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the 62% retracement level of the April-May-decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top 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.
