Silver closed above the rising 100dMA at US$38.33 an ounce, forming a black spinning top in the process. The longer term trend for silver is still up although it is experiencing some weakeness in momentum now. The MACD has completed a bearish crossover with the signal line but it is still in positive territory suggesting that silver is experiencing a correction and nothing more. See the chart below:
For the more adventurous, buying more at current levels is definitely better than buying two weeks ago. For the less adventurous who wish to buy closer to the 200dMA which is currently at US$33.66 an ounce, why not? It could happen. Good luck.
2 comments:
Hi.. what do you think of silver today after the fall of the S&P.
regards
Sim
http://mcx-advisory.blogspot.com/
Hi Sim,
I think silver has recaptured support and there could be more upside. Will wait and see. :)
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