Chart of the day: Silver
|Silver is in an ascending wedge, but the silver market also found resistance at the 61.8% Fibonacci resistance level at the $25.34 level. The spike above there did not last long as we may be nearing channel support at the $23.50 level soon. A break of the channel would put the trend lows at $21.59 back in play and if broken, the 200dma would be next below the $20.00 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.