Silver has pulled back from $29.86 to $29. The long upper wick attached to daily candle now shows uptrend exhaustion. Silver is currently trading at $29 per ounce, having printed a 7.5-year high of $29.86 during the early Asian trading hours. The daily candle now has a long upper wick. If prices suffer a deeper drop or remain unchanged till Friday’s close, a daily candle with a long upper shadow – a sign of uptrend exhaustion – will be confirmed. That would validate overbought readings on the daily chart indicators like the relative strength index and slow stochastics and could yield a notable price pullback. That said, the overall bias would remain bullish as long as prices are held above the former resistance-turned-support of $26.20 (July 28 high). Daily chart Trend: Teasing bull exhaustion Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Price Analysis: Pressured below 0.6700 amid mixed trade numbers from China FX Street 2 years Silver has pulled back from $29.86 to $29. The long upper wick attached to daily candle now shows uptrend exhaustion. Silver is currently trading at $29 per ounce, having printed a 7.5-year high of $29.86 during the early Asian trading hours. The daily candle now has a long upper wick. If prices suffer a deeper drop or remain unchanged till Friday’s close, a daily candle with a long upper shadow – a sign of uptrend exhaustion – will be confirmed. That would validate overbought readings on the daily chart indicators like the relative strength index and slow stochastics and could… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
