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Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Deja Vu?
July 15, 2021 - (Gold Market Wire) - The $26.40 level, which has been so key, technically, and which we noted, again, yesterday, has made itself known again. It's right where we stalled out, and today - it is the intra-day high (so far).
No doubt, this level has a role in the Silver market. We did manage one close above, but it was quickly given back. As the chart shows, we have bumped up against this several times, to be repulsed every time. Yesterday's chance for a move higher has failed - again. We are going to need a decisive move above, for anything to get moving higher in this market. We are definitely in the summer doldrums. If this keeps up net week, we may take on a (long) scalping posture.