Technical analysis of Silver for March 10, 2021


Silver has been correcting since the February 1 peak at 30.02 and is now ready to resume the underlying uptrend for a new test of key-resistance at 30.00. A clear break above 30.00 will open for a strong impulsive rally higher to 50.00 and ultimately above here too.

Short-term a break above minor resistance at 26.13 will call for a firm test of short-term key-resistance at 27.30 and above here confirm re-test of key-resistance at 30.00

Trading recommendation:

Buy a break above 26.13 and place your stop at 24.75

The material has been provided by InstaForex Company -