Baxia Markets
January 14, 2022

Silver attempts a breakout on the $23.16 resistance

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The precious metal is on a four day winning streak that could come to an end if the price is unable to complete the resistance  breakout at the 23.6% Fibonacci retracement. The pair trades above the short and long term moving average and they are about to cross, indicating an uptrend.


The Bollinger bands are narrow but they are starting to move up, we could see the breakout completed in the short term; however the pair trades closer to the upper band, suggesting that the price is relatively high, the bands need to open in order for the uptrend to continue.


Silver Jan 12th 2022


The relative strength index is at 54% which gives the pair enough room to continue climbing, but we would have to wait for the price to complete the breakout and the Bollinger bands to open in order to place a long trade. Our parabolic SAR suggest that the price will continue climbing in the short -term 


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precious metals, commodities, trading conditions, technical analysis, trading indicator

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