A week ago we wrote that the price of silver has broken un upper limit within a multi-year consolidation. The price surged along with gold and the weakness of the dollar. The monthly rise in July in the silver price was the biggest since 1979.
From the technical point of view, the price has reached a potential first target for the bulls which was set by the height of the mentioned consolidation at around 28,00 USD.
However, the next potential target may be located at 35 USD.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
From the technical point of view, the price has reached a potential first target for the bulls which was set by the height of the mentioned consolidation at around 28,00 USD.
However, the next potential target may be located at 35 USD.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
