rounded corner
rounded corner
top border

ZYTrade Technical Snapshot - Silver (SL)

Bookmark and Share

Silver will have to clear 25.50 for the near-term uptrend to resume [1] and 28.00 for the intermediate-term downtrend to be put into question. Further downside is possible, with the 21.00 range finding potentially critical support (both the 50% retracement and 200-EMA have converged slightly above that level).

On the fundamental side of things, theres going to be a lot more fiscal spending in the works, regardless of who wins the election. This is bearish for the dollar but highly bullish for both gold and silver (the latter especially considering its industrial applications and use for electric and solar applications, especially in the event of a Biden win). More on that here.

Trading futures, options on futures, and forex involves substantial risk of loss and is not suitable for all investors. The use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.

Recent articles from this author

About the author

Karl Montevirgen is an independent content writer. Having been involved in the commodities and FX markets for the last 9 years, Karl writes for several companies and publications in the finance space. 

You can view his extended profile, list of publications, and theoretical content work on his LinkedIn page. 

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. is not a broker, nor does it have an affiliation with any broker.

Copyright ©2005-2020, a product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy