|Day's Range||15.075 - 15.275|
|52 Week Range||15.0750 - 15.2750|
Silver markets initially pulled back during the week but then turned around to show signs of strength again in order to break above the $18 level.
Silver markets rallied significantly during the trading session on Friday, as we continue to see a lot of noise in general.
The gold futures contract gained 0.09% on Thursday, as it extended its consolidation following bouncing off $1,700 support level on Wednesday. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday almost two weeks ago. Gold is 0.6% higher today, as it gets back to yesterday’s high.
Silver breached the resistance at $17.50 and continues to gain upside momentum.
The silver markets rallied a bit during the trading session on Thursday, reaching towards the $18 level.
Yesterday’s price action was quite bullish and today it goes higher.
At this point, it is likely that the market will continue to grind back and forth.
Silver failed to settle above the key resistance at $17.50 and declined below the nearest support level.
Silver markets continue to go back and forth at the open for the week, as the Tuesday session saw plenty of volatility.
Silver settled above $17.00 and looks ready to test the nearest resistance at $17.50.
Silver markets pulled back just a bit during the trading session on Monday, as most traders will have been focusing on Memorial Day in the United States.
Silver’s recent pullback was stopped above $16.50, and now it tries to get back to the upside mode.
Silver markets rallied rather stringently during the week but have shown signs of exhaustion near the $18 level.
Silver initially fell again during the trading session on Friday but did recover a bit as the specter of the $17 underneath seems to be offering some support.
Silver tries to recover from a sell-off that pushed it below $17.00.
The Thursday session has seen a 4% drop rather quickly, and quite frankly we may have further to go.
Some might say “Silver’s performance over the past several weeks has been nothing short of phenomenal.” Others talk and act as if all of their wildly crazy price predictions have already come true.
The silver markets went back and forth during the trading session on Wednesday as we continue to press against a major large figure in the form of the $18 level.