economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Weekly Bearish Candle Shows Downward Pressure Given that Friday\u2019s price range was relatively wide, a continuation of today\u2019s advance from the day\u2019s low is certainly possible. But silver would be advancing inside the price range of a bearish pattern and therefore resistance would be anticipated to eventually be hit, and lead to further weakening. Notice the distinct bearish reaction on Friday once the $33.39 high was reached. Friday ended near the lows of the day. Although there is a 78.6% retracement level at $33.56, the 161.8% extended target from a rising ABCD pattern (purple) looks to be the pattern influences the bearish reaction. The ABCD pattern reached its extended target at $33.34. Weekly Chart is Bullish With last week\u2019s wide range silver could trade this week inside last week\u2019s price range from $31.25 to $33.39. It is interesting to note that last week\u2019s low was at the 20-Week MA and it was the first full weekly range above the 20-Week line since November. This is a sign of strengthening on the longer time frame pattern and therefore noteworthy. It shows the progression of a weekly uptrend from the December swing low, which provides bullish signs as prior resistance has successfully been tested as support. This makes last week\u2019s low of $31.25 a significant support level. If silver can stay above that low, it will continue to have a chance of proceeding higher as the weekly bull trend will be retained as well as support at the 20-Week line. Monthly Chart Also Bullish The bull picture would not be complete without recognizing clues on the monthly chart. During February silver triggered a monthly breakout above January\u2019s high. January was an inside month as trading was contained within the price range from December. The subsequent rally broke out above both December and November\u2019s highs as well, thereby providing additional bullish signals on the long-term time frame. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":35222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-35221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=35221"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/35222"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=35221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=35221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=35221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}