Silver Showing Potential To Go Higher After Pause

There is a growing sense that Silver is currently a strong potential investment. It is likely to hit resistance in the near future before entering a new upside price leg.

Both silver and gold have shown impressive rallies in price over recent weeks, and this could be the beginning of a more substantial price trend.

Identifying Momentum Alongside Historical Data

Expert analysis has identified a resistance level for silver since it has broken out of its falling channel. The resistance zone it currently sits in has been a fundamental price channel in the past, but the momentum, cycle analysis and Fibonacci all point to an upward move in the form of advancement legs.

The first of these legs is close to exhaustion, and a slight price rotation downwards is likely to happen next, so when this happens the technical trader will have a good opportunity to acquire silver at a good price. The window may be small, as the next upward leg is likely to happen quickly.

It would be a safe estimate to predict that the upside leg for silver should come in at between +6% and +10% to a resistance zone. Upon reaching this level, and once prices consolidate to create another momentum base, a further upside leg should drive the price higher still before stalling for a second time.

The Bigger Picture

Significant moves are being observed not just in metals stocks, but all over the globe with some super cycles showing the potential to last years.

Leave a Reply

Your email address will not be published. Required fields are marked *