Indicators somewhat positive
The silver price is now moving upwards again. The strong blue downtrend line that has been in place since October was broken in the course of January.
In recent days, the silver price has also managed to clearly break away from the sideways moving average lines to the upside.
In the MACD indicator, the buy signal generated at the beginning of the year (the blue line crosses the red line upwards) was briefly jeopardised (arrow), but was not cancelled (blue line now continues to rise above the red line). The trend confirming indicator also ended its downward trend and is currently still rising – and has also been back in positive territory above the 100 level for three weeks.
The movement is currently not overheated – at 1.0, the overbought/oversold indicator is midway between a neutral (0) and overbought (from 2.0) rating.
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