Silver closed lower on Thursday as it extends this week's trading range but remains below June's broken uptrend line. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it extends the decline off last week's high, the reaction low 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.