Baxia Markets News

Silver on a three day winning streak.

Written by Baxia Markets | Dec 24, 2021 3:00:00 AM

The precious metal gained 3.06% in the last three trading sessions, it is now getting closer to the resistance level at $23.169 which is at our 23.6% Fibonacci retracement. The price now trades above the short-term moving average and this could be a good indicator of an uptrend.

 

The Bollinger bands continue to close up and volatility should be lower in the upcoming trading sessions, the pair is trading closer to the upper band suggesting that the price is relatively high, however, the Relative strength index is only at 51% which will allow the pair to continue climbing in the short term.

 

 

Our parabolic SAR indicator suggests that the price will continue to move upwards in the short term. If the price managed to break the resistance it's likely that it will continue to move up.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.