Chart Update Silver: Eight-Week Downtrend Broken

The six-month chart of the silver price shows a three-month upward movement since the beginning of the year, which was completely nullified by the crash in April. It quickly managed to jump back above 32 US dollars, but the subsequent trend was declining (below the blue trend line) – even though the 200-day line provided support. A few days ago, there was a significant jump above the trend line – it’s not far from the March peak.

The two average lines, which continue to rise, are to be viewed positively.

Correspondingly, the trend confirmation indicator has been holding above 100 in positive territory for several weeks – albeit only slightly. The MACD was even able to generate a buy signal a few days ago. A further price increase should therefore be apparent.

Source: Comdirect

Keywords

Disclaimer

I. Information Function and Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies, and companies the opportunity to publish comments, analyses, and news on www.goldinvest.de. The content serves exclusively for general information and does not replace individual, professional investment advice. It does not constitute financial analyses or sales offers, nor is it a solicitation to buy or sell securities. Decisions made based on the published information are entirely at your own risk. No contractual relationship arises between GOLDINVEST Consulting GmbH and the readers or users, as our information relates exclusively to the company and not to personal investment decisions.

II. Risk Disclosure: The acquisition of securities involves high risks, which can lead to the total loss of the capital invested. Despite careful research, GOLDINVEST Consulting GmbH and its authors assume no liability for financial losses or for the content’s guarantee regarding timeliness, accuracy, appropriateness, and completeness of the published information. Please also note our further terms of use.

III. Conflicts of Interest: In accordance with §34b WpHG and §48f para. 5 BörseG (Austria), we point out that GOLDINVEST Consulting GmbH, as well as its partners, clients, or employees, hold shares in the aforementioned companies. Furthermore, a consulting or other service agreement exists between these companies and GOLDINVEST Consulting GmbH, and it is possible that GOLDINVEST Consulting GmbH may buy or sell shares of these companies at any time. These circumstances can lead to conflicts of interest, as the aforementioned companies compensate GOLDINVEST Consulting GmbH for its reporting.