Indicators Show Rather Positive Signs
The silver price is now moving upwards again. The strong blue downtrend line that has existed since October was overcome during January. In recent days, the silver price has additionally managed to clearly set itself apart from the sideways moving average lines.
In the MACD indicator, the buy signal generated at the beginning of the year (the blue line crosses the red line upwards) was briefly in danger (arrow), but was not cancelled (blue line now continues to rise above the red).
The trend confirmer also ended its downtrend and is currently continuing to rise – moreover, it has been back in positive territory above 100 for three weeks. The movement is not overheated at present – the Overbought/Oversold indicator is at 1.0, in the middle between a neutral (0) and overbought (from 2.0) assessment.