As seen from the weekly chart, 200EMA is an important technical setup. Moreover, both the trendline from 2011 and 200EMA are very close to each other indicating that silver has approach a key technical level. Worthnoty,S1 from of the weeky pivot is also in the proximity. All in all, a close above
both 200EMA and trendline would signal the 3 years old bear market might soon be over.
A close below the weekly pivot would bring us to a potential retest of December low or, even further, would target 14 levels.
Now, this is a no-trade situation in my opinion.
both 200EMA and trendline would signal the 3 years old bear market might soon be over.
A close below the weekly pivot would bring us to a potential retest of December low or, even further, would target 14 levels.
Now, this is a no-trade situation in my opinion.