the daily chartist

Silver struggles to push up

published 2 years ago
Silver Daily

 As well as gold, silver also is stuck in a range after quite some time being under pressure. On the top, we have 14.335 sell zone pushing the price down, and on the bottom, the Bulls struggle to keep the price floating at 13.976. The price will find its clear direction as well when a catalyst form as the FED meeting tomorrow for example. Stoch has already reached its overbought zone, but CCI still needs to catch up to back up the crossover from the stoch indicator. As with gold and the overall correlation between precious metals short them all with appropriate SL if tomorrow's conditions are to back up the Bear's views and of course, impulse up will be a strong one to clear out any Bear stops to the top side.