Friday, January 31, 2020

Silver Technical Analysis

Silver is up for a third straight day, as the trend remains upward. Note that the metal has crossed above the 50-EMA for the first time since mid-December. The 18.00 level is showing resistance, but could give way to the positive momentum we’re seeing. There is further resistance at 18.60 and at 19.00. On the downside, there is significant support – the 200-EMA is at 17.04, just above a support line at the round number of 17.00.