Silver Back Above $30 - Is the Pullback Over?
Silver is following in the footsteps of its big brother Gold by bouncing off long-term trend line support (in this case, at its 50-Day EMA at $29) to resume its longer-term uptrend.
As of writing, Silver is testing a near-term bearish trend line connecting the recent highs, but if that resistance level gives way, the grey metal could quickly rally to retest its multi-decade high above $32.
-MW
As of writing, Silver is testing a near-term bearish trend line connecting the recent highs, but if that resistance level gives way, the grey metal could quickly rally to retest its multi-decade high above $32.
-MW
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