Friday, February 7, 2020

Daily Technical Analysis
The main trend is down according to the daily swing chart. A trade through $1551.10 will signal a resumption of the downtrend. Taking out $1598.50 will change the main trend to up.

The major support is the retracement zone at $1539.10 to $1520.00.

The short-term intermediate range is $1542.80 to $1598.50. Its retracement zone at $1570.70 to $1564.10 is currently being tested. Trader reaction to this zone will determine the near-term direction of the market. Overcoming it could lead to a challenge of the recent high. A failure at this zone will likely form another secondary lower top.
The main range is $1619.60 to $1542.80. Its retracement zone at $1581.20 to $1590.30 is potential resistance 

Second call silver[10/07, 5:58 PM] vstradingsystem: Sell silver 51550-660 SL 51970 target 50500-49700  [10/07, 9:13 PM] vstradingsystem:...