Silver going for a new high.

Silver is now at US$37.71 an ounce. The bulls win. US$36 is probably resistance turned support for now. 20dMA is currently at US$35.04 an ounce.

In terms of momentum, the MACD has completed a bullish crossover with the signal line and it remains to be seen if it would form a higher high or a lower high. A higher high would be good news for the bulls while a lower high would sound a warning bell especially as price forms a higher high.

UOB is selling silver at S$47.59 an ounce.