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Since that high silver has largely consolidated within the price range from the day the peak was reached on February 14. Note that high was reached on a Friday and the day ended with a bearish shooting star candlestick pattern. The low for that day was $32.07.<\/p>\n
Silver dipped below $32.07 on the following day but since then trading has been retained within the price range of $32.07 to $33.39 from that day. Overall, the bearish implications from the shooting star candlestick pattern have not been realized.<\/p>\n
Since the 20-Day MA (purple) was reclaimed on January 28 that line has done a good job of identifying dynamic support for the near-term uptrend. There were two days following where silver dipped to test support around the 20-Day line. It did so again today, Monday, as the day\u2019s low of $32.09 was close to 20-Day MA at $32.03.<\/p>\n
Notice that buyers got more aggressive from today\u2019s low, reflecting support. Given the reaction around the 20-Day MA it remains a key dynamic support indicator. A potential change in upward momentum would be indicated if there is a dip below that line that is followed by the price of silver staying below the line.<\/p>\n
There is also a weekly low from last week at $31.92 that makes up the weekly uptrend of higher weekly lows that have been in place for four weeks. A pattern of higher weekly highs was in place for seven weeks until last week when there was a lower weekly high. Last week silver ended the weekly session in a relatively weak position in the lower half of the week\u2019s trading range. There was also a weak weekly closing price shown two weeks ago as well.<\/p>\n
A decisive decline below the weekly low at $31.92 would further confirm bearish implications following a drop below the 20-Day MA. Since the 20-Day line and the weekly low are relatively close to each other, a drop below the 20-Day MA may find support above the weekly low.<\/p>\n<\/div>\n
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[ad_1] Consolidating Around Highs Since that high silver has largely consolidated within the price range from the day the peak was reached on February 14. Note that high was reached on a Friday and the day ended with a bearish shooting star candlestick pattern. The low for that day was $32.07. Silver dipped below $32.07 on the following day but since then trading has been retained within the price range of $32.07 to $33.39 from that day. Overall, the bearish implications from the shooting star candlestick pattern have not been realized. 20-Day MA Offers Key Trend Support Since the 20-Day MA (purple) was reclaimed on January 28 that line has done a good job of identifying dynamic support for the near-term uptrend. There were two days following where silver dipped to test support around the 20-Day line. It did so again today, Monday, as the day\u2019s low of $32.09 was close to 20-Day MA at $32.03. Notice that buyers got more aggressive from today\u2019s low, reflecting support. Given the reaction around the 20-Day MA it remains a key dynamic support indicator. A potential change in upward momentum would be indicated if there is a dip below that line that is followed by the price of silver staying below the line. Weekly Bullish Trend There is also a weekly low from last week at $31.92 that makes up the weekly uptrend of higher weekly lows that have been in place for four weeks. A pattern of higher weekly highs was in place for seven weeks until last week when there was a lower weekly high. Last week silver ended the weekly session in a relatively weak position in the lower half of the week\u2019s trading range. There was also a weak weekly closing price shown two weeks ago as well. A decisive decline below the weekly low at $31.92 would further confirm bearish implications following a drop below the 20-Day MA. Since the 20-Day line and the weekly low are relatively close to each other, a drop below the 20-Day MA may find support above the weekly low. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":36370,"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-36369","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\/36369","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=36369"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/36369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/36370"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=36369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=36369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=36369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}