Silver markets were and came back during the trading session on Tuesday, while we continue to see a lot of noise when it comes to precious metals. The US dollar, of course, has a great influence on what happens to precious metals, so keep that in mind. However, we have recently seen so much noise that silver has been difficult to trade. Remember, silver is extraordinarily volatile at best, and if you are trading the futures market can be relatively expensive if you are wrong, as you are trading 5000 ounces. Having said that, we have some technical things that we should pay attention to today.
Just above, we have the EMA of 50 days, followed by the EMA of 200 days. Looking at this chart, there is also a drop that is sometimes a bullish signal, when we break above the bearish trend line. Looking at this chart, if we reach the top, we could reach $ 16.00, but this seems to be very unlikely in the short term. We need to see a very impulsive candle stick and we need to be very patient as there are so many resistive areas right up there.
Looking at this chart, I also see a lot of support downstairs at the $ 14.75 level, so breaking down can break that market up to the $ 14.50 level and then the $ 14.25 level. One thing is certain, we will see a lot of noise in this market and therefore you should be patient and expect the impulsive candle to enjoy.