XAG/USD is going to turn bullish after the news reports tomorrow. It will retest the .786 on the fib and rise to the 29.67 level. Essentially forming a double bottom.
Downward movement is just started on daily basis. 14.775 will act as support if this point will break then sellers will get in the market in no time. Also COT report must be tracked this weekend.
SILVER: Silver may be range bound to up in coming week. For weekly traders buy above 14.89 SL@ 14.81 Tgt 01 @ 15.11, Tgt 02 @ 15.20. We would advise traders to trade carefully in SILVER.
After Silver doing See saw on price & trend. The Silver has finally decided to go North. The upper rally was signaled on 26 January 2016. In near future Silver is poised to go up. on moderate view chances are bright that it may touch 14.72$ to 14.83$. On a brighter side a level of 15.17$ can also be breached in near future.
Caution: The above are our personal...
I just wrote about the gold/silver ratio and how it's suggesting a possible new cycle in the silver market (see suggested idea below). To further develop this hypothesis, I find that silver prices are at an important crossroad following last week's rally. The US dollar's sharp fall following the week September US employment data has given relief to battered...
I find it quite risky to buy precious metals right now, but silver is currently testing a support that gave way to a technical bounce at the beginning of the year (see related idea below). All I can say at this point is that silver may hold better than gold, which suggests that buying it may provide a hedge for anyone who is already short on in the gold market. At...
