Silver price at all-time high: Double top negated, buy signal confirmed

In October and November, the silver price formed two prominent high points at the same level, thus creating the basic prerequisite for a double top formation. Had the neckline (in the range between 45 and 47 US dollars) been undercut, a downward potential would have opened up to just over USD 40.

With yesterday’s upward impulse to a new all-time high, the negative scenario is obsolete.

Both averages as well as the green trend line are unbroken in their steady upward movement.

A buy signal recently came from the MACD (blue line crosses red line upwards) – it weakened briefly (arrow), but was not canceled and is currently becoming clearer. The trend confirmer has also made it back above the neutral 100 into positive territory and is currently continuing to rise.

The upward dynamic, indicated by the Overbought/Oversold indicator, has developed very strongly – currently at the third highest value of the last six months, it is already approaching an overbought rating (values from 2.0). A somewhat quieter phase could therefore be imminent again (compare June and July).

The silver price could rise even further — *Source: Comdirect*

Keywords

Featured Company

Further Links

Never miss important news again.

Receive exclusive updates on exciting commodity companies, market analyses, and investment opportunities directly in your inbox.

By submitting the form, you agree that your contact details will be processed for sending the newsletter.

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.