Buyers building in Silver?

พฤษภาคม 25, 2020
by Joseph Jeffriess, Market Analyst

Demand has started to build from the 16.935 area.

Welcome to new week traders, looking at Silvers D1 we can see some signs a new area of demand has started to develop. This area is from 16.935 to 17.00. We’re looking at this area from a continuation point, and that buyers could resume the current uptrend.

We want to see buyers hold the 16.935 with a close showing they are not only interested but holding numbers. If they’re successful in this we would be looking for a new leg up to test the two resistance points that stopped the up leg last week.

A break lower and close below 16.935 would start to suggest sellers remain numerous and price could have some time left in its short-term correction. A new trendline test an idea if selling continued. But while this current demand remains in play we will continue to look for more signs of increasing buyer numbers.


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