Baxia Markets
January 04, 2022

Silver couldn't hold resistance breakout

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The precious metal was unable to consolidate the resistance breakout and is 1.77% down, the price made big progress since mid-December but found a pullback, could it manage to consolidate the breakout in the short term?


The Bollinger bands are opening up which will bring higher volatility to the pair in the short term, the price tarded above the upper band for a few moments before it sank to $22.7. If the bands continue to open up, the price is likely to resume its uptrend.


Silver Dec 22nd 2021


The relative strength index is at 50%, this will allow the price to move in either direction in the short to mid-term. Markets have been quiet in recent weeks, we expect higher movements in the next few sessions.


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

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