|Day's Range||15.075 - 15.275|
|52 Week Range||15.0750 - 15.2750|
The Silver markets initially tried to rally during the week but then found a lot of resistance at the $18.50 level. We rolled right back over and formed a very bearish looking candle for the week.
The Silver markets fell during the trading session on Friday to test a significant uptrend line, and at this point is going to be very interesting to see if we can hang on. That being said, we are obviously rotating quite a bit.
Investing.com -- Gold edged above $1,500 an ounce again on Friday, as the reality of ever-more negative interest rates in Europe outweighed the general return of risk appetite in stock and commodity markets.
Silver markets went back and forth during the trading session as the ECB had an interest rate decision, signaling further quantitative easing. That of course is good for precious metals longer term, but the reaction of silver suggests that traders didn’t get enough.
Silver markets went back and forth during the trading session on Wednesday as we hang about the $18.15 level. All things being equal I believe that the market is probably waiting on the European Central Bank meeting on Monday, to see how much more quantitative easing we are about to get.
Silver continues to show limited movement. The metal has been acting as a safe-haven role. This means that we could see stronger movement from silver after the release fo U.S. inflation and retail sales data.
The recent movement in the precious metals markets, an incredible 33% upside price move since August 2018, has reflected an increased level of fear and greed throughout the global markets. Particularly, throughout the foreign markets.
Silver markets have fallen a bit during the early part of the trading session on Tuesday to test the major trendline that I have drawn on the chart. With that being the case, we could be ready to bounce again.
Silver has retraced in September after coming close to the key 20-level. The metal is mimicking gold and acting as a safe-haven asset, so traders should treat fundamental releases as market-movers.
Buying sentiment towards Gold was dealt a heavy blow last week as renewed optimism over US-China trade talks encouraged investors to offload safe-haven assets and chase riskier investments.
The Silver markets have had another volatile ride during the week, shooting towards the $20 level before pulling back massively to form a shooting star. This obviously has caught the attention of longer-term traders.
Silver markets broke down initially during the trading session on Friday, but then found support near the $18.05 level. By finding the supported did we ended up forming a massive hammer which shows that the market is ready to continue to try to press higher.
Gold reacted positively after the weak nonfarm payrolls data in the U.S. and it is recovering almost all its daily losses. Silver just exploded to the upside.
Investing.com - Gold prices stabilized at lower levels early Friday in New York, after suffering their biggest one-day drop of the year on Thursday in the wake of surprisingly strong U.S. economic data and hopes for a de-escalation of the U.S.-China trade war.
Silver markets fell hard during the trading session on Thursday, reaching down towards the 23.6% Fibonacci retracement level. Because of this, it’s very likely that the market is going to respect the $18.50 level, at least for the short term.
Silver continues to be marked by strong volatility, as the metal has posted sharp losses in Thursday trade. XAG/USD started the day at 19.53, after strong gains over the previous two days. However, the pair retraced and is down 2.82% in the North American session. The pair is back below the symbolic 19.00 level.
Metals are mixed on the day, gold and silver are posting losses, but copper is extending its recovery from 2-year lows, while palladium and platinum are consolidating highs.
Investing.com -- Gold prices slipped on Thursday after confirmation of a restart to U.S.-China trade talks supported risk assets at the expense of havens.
Silver markets initially rallied during the trading session on Wednesday but continue to find it a bit difficult to go higher from here. That makes perfect sense, this chart starting to look like Bitcoin from a few years ago.
The Rising US Dollar continues to shift the investing landscape as a stronger US Dollar mutes the price acceleration in precious metals and continue to put pricing pressures on the global economy.
XAU/USD is currently trading at 1,540, 0.53% negative on the day. The hourly chart looks bearish in the short term, but some signals of recovery are appreciated in the technical indicators.
Investing.com - Gold prices remained close to recent highs on Wednesday, refusing to give up much ground despite a broad rally in risk assets around the world.
Silver markets broke higher again during the trading session on Tuesday, as we have broken above the $19.00 level during early trading. That being said, the market is overextended to say the least.