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04.08.2021 07:07 PM
Silver Reversal Needs Confirmation

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Gold dropped in the last hours and now is retesting the broken downtrend line. It has increased as much as 25.892 where it has found resistance. Staying above the downtrend line and jumping above 25.892 today's high could really signal a potential upside reversal.

Technically, only dropping and stabilizing under the downtrend line could invalidate the upside scenario. Silver could move somehow sideways in the short term if it stays above the downtrend line.

Trading Conclusion!

Staying above the downtrend line and jumping through the 26.000 psychological level may signal further growth in the upcoming period.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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