Silver has risen sharply after taking support at the 20-day SMA and has breached the upper Bollinger band indicating upside breakout for the metal. RSI is rising supporting the above observation and signifying further upside potential. It would be prudent to say that silver can rise further towards 25.80 and 26.30 while it sustains above 23.75.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.