Markets

Trading Forecast Silver

Silver closed higher due to short covering on Friday as it consolidates some of this week's decline. The mid-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are bearish signalling that a short-term top might be in or is near. Closes below the July-August uptrend line crossing would confirm a top and trend change has taken place. If it renews the rally off June's low, the 75% retracement level of the April-May-decline crossing is the next upside 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.

Other Topics

Commodities