David Becker
Add to Bookmarks

Silver prices rebounded on Wednesday after falling below trend line support earlier in the week. The dollar moved lower, which failed to buoy gold prices, but copper gained a foothold as concerns over the spread of the virus disappeared slightly.  U.S. Yields were mixed following the U.S. 20-year auction, where the yield needed to rise to gain buyers.

Regulated By:CySEC, FCA, FSC

Foundation Year:2011

Headquarters:30 Churchill Place, London, E14 5EU, UK

Min Deposit:$10

Visit Broker

82% of retail CFD accounts lose money

Know where Silver is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Technical analysis

Silver prices dropped rebounded on Wednesday after falling for three consecutive trading sessions. Target support is seen near a horizontal line seen near 23.86. Resistance is seen former support near $25.55.  Additional resistance is seen near the 20-day moving average at 25.95. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. The fast stochastic has moved up from printing a reading of 6, to 22 above the oversold trigger level of 20, reflecting positive momentum. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line). The MACD histogram is printing in negative territory with a sliding trajectory which points to lower prices.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker