I have an at market buy on silver here. Market has come into a major area of previous support. We also have a bullish price candle showing price briefly breaking this support but immediately being bought back up to close inside this bullish zone again, giving a signal of bullish momentum. Buy @ market S/L 16.58 T1 17.44
P.S Interest rate decision later on tends to move the Silver and gold markets a lot. So be aware of that when looking at this level to trade.
Comments
surferjoe
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I need a long bullish candle, I put a buy order in the other day at 16.90 and i'm glad it never got there, that might have been a good buy if silver had held at 16.80, we are due for a turn around but when will it happen, will gold have to lead the way or do you think silver can lead.
alectrade1
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@surferjoe, Its hard to know which metal will lead the way. At the moment it seems that gold is outperforming silver. Gold is in a very attractive bullish zone for me where silver has now broken and closed bellow that 16.60 level. So its a bit up in the air now. Just trade the price in a consistent manner and you will find yourself in good trades. Process over outcome. If you have any other info on the correlation that you asked about id love to know. Thanks for your comment.
btM_Afta
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SL hit right?
piptamil
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@Dguaman, Yes u can buy now for small retracement 16.64