For a year, the silver price has repeatedly pronounced important high points at around USD 32.50. The precious metal is currently preparing to finally put these resistors into the files. This is said that the price development of the past few weeks is a classic flag (see chart). The outbreak from the described consolidation pattern opens up a mathematical connection potential to target the highs at around USD 36. In 2012, the silver price pronounced important horizontal barriers here. On the way to this region, the high marks on October last year at $ 34.87. The cyclical will soon be used as an additional catalyst. The period from mid -March to mid -April is a seasonally very cheap phase, in which the precious metal based on the data has been able to increase almost 4 % on average since 2000. Thanks to a “double saucer formation”, the strategic framework is correct – as long as the neck zone of the two formations at $ 30 is not undercut. This “disaster stop” is also secured by the 200-day line (act. At $ 30.57).
Silver (Daily)
Source: Refinitive, Tradesignal² / 5-year-old in the appendix
5-year-old silver
Source: Refinitive, Tradesignal²
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