Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Reaches for The Ring
April 6, 2021 - (Gold Market Wire) - Silver has made a move...but it is still a little too early to confirm whether it looks like 'the' move. So far - so impressive... but now for the tough part. The chart lays it out.
As we pointed out yesterday - kudos for clearing the downtrend - and we are following through nicely. Now for the trend line challenge. We are certainly getting bullish. The potential reversal we identified is starting to look like the real McCoy. We are just need the next hurdle to establish length.
No doubt, the recent weakness in the US Dollar is helping, now back at 1.1850. The next resistance is up around 1.1875, and if we get through on a close, we are likely to take profit on our remaining half of the position from 1.23.