That was a great half of the year for SILVER. On both metals, GOLD and SILVER, we can see clear new uptrend. The real breakthrough occurred between June 29th and July 1st when the price crashed through support at 18.40$. However, the next strong resistance is located at 21.40 and its fast breakout is unlikely.

For two weeks the price has been remaining above 19.60, which is the nearest support. If SILVER breaks this support, the price will move to 18.40. Then, the bulls should react and correction may be finished. For the bulls the nearest important resistance is located at 21.40.

TRY IT NOW

XAGUSD_H4

Error, group does not exist! Check your syntax! (ID: 3)
SHARE
Previous articleEUR/AUD – trend line breakout
Next articleNZD/USD – on key support
Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.