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Silver Daily Technical Outlook

Crude oil continues to struggle around 19.52 fibonacci level and with 4 hours MACD crossed below signal line, intraday bias is turned neutral. Some retreat might be seen. But after all, outlook will remain bullish as long as 18.40 minor support. Recent rally is still in favor to continue. Sustained trading above 19.52 will set the stage for 100% projection of 14.65 to 18.605 from 17.08 at 21.035 next. however, break of 18.40 will argue that silver might have topped out and will turn focus to 17.08 support for confirmation.

Silver Daily Technical Outlook

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Posted in Commodities