The option for today is a series of articles about binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
The price of SILVER has been moving south for two weeks. As I reported on Wednesday, as a result of these falls, the market hit the bottom of the previous growth channel. As it happens in the downward trend, in addition to the impulses from time to time corrections also appear. It is the same situation now. Since yesterday afternoon we have seen steady gains, as a result of which the price of SILVER has reached local resistance – level that coincides with 38.2% Fibonacci correction from the last downward impulse. Rejection of this zone could be a signal for declines. In the short term, therefore, it is worth considering PUT option on this instrument.
uTrader offers trade on binary options in currencies, indices, commodities and shares of popular companies. Predict the rise or fall of the price and generate profits up to 85% on one transaction.
