David Becker
Add to Bookmarks

Silver prices rebounded on Thursday for a second consecutive trading session. The dollar moved higher but yields moved lower which seemed to buoy gold prices, Copper gained pushed higher after gaining a foothold as concerns over the spread of the virus disappeared slightly.  A stronger than expected Existing Home Sales failed to buoy yields as jobless claims unexpectedly declined on Thursday.

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 Thursday for a second consecutive trading session after falling for three consecutive trading sessions. Target support is seen near a horizontal line seen near 23.86. Resistance is seen near former support near $25.55.  Additional resistance is seen near the 20-day moving average at 25.93. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. 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.


Existing-Home Sales Rise

Following 4-months of lower existing home sales the June data snapped the streak. Existing home sales rose 1.4% in June month-to-month to an annualized rate of 5.86 million units, according to the National Association of Realtors. Sales were 22.9% higher compared with June 2020. The inventory of homes for sale at the end of June was 1.25 million, representing a 2.6-month supply at the current sales pace. That is a slight improvement from May’s 2.5-month supply.

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