Mon-Fri 8am-6pm EST -  Support: 212-391-2211

  • My account
Wallace Precious MetalsWallace Precious Metals
0
  • Home
  • Gold
    • Gold Coins
      • American Gold Coins
      • Canadian Gold Coins
      • British Gold Coins
      • Chinese Gold Pandas
      • Austrian Gold Philharmonics
      • European Gold Sovereigns
      • Gold Bars
    • Other Gold Coins
      • Somalian Gold Elephants
      • Ukrainian Gold Coins
      • Disney Gold Coins
      • South Korean Gold Coins
      • World Gold Coins
  • Silver
    • Silver Coins 1
      • Silver Bars
      • Silver Coins
      • Silver Bars
      • Silver Rounds
      • Silver Statues
      • Silver Bullets
      • Silver Eagles
      • Silver Dollars
      • 90% & 40% Silver Coins
      • Ukrainian Silver Coins
    • Silver Coins 2
      • America The Beautiful Series
      • Canadian Silver Coins
      • Canadian Silver Coins
      • Chinese Silver Pandas
      • Austrian Silver
      • South Korean Silver Coins
      • British Silver Coins
      • Australian Silver Coins
      • New Zealand
      • Gilded Silver Coins
    • Other Silver Coins
      • Solomon Islands Silver Coins
      • Armenian Silver Coins
      • Biblical Silver Coins
      • Cook Islands Silver Coins
      • Rwanda Silver Coins
      • Congo Silver Coins
      • Fiji Silver Coins
      • Native American Coins
      • Disney Silver Coins
      • World Silver Coins
  • Platinum
    • IRA Eligible Platinum
    • Platinum Bars
  • Palladium
  • On Sale
    • New Arrivals
  • Sell To Us
  • Charts
    • Gold Price Charts
    • Silver Price Charts
    • Platinum Price Charts
    • Palladium Price Charts
    • Stock Market Analysis
      • Technical Analysis Charts
    • Commodities Chart Box
  • IRA
  • Other
    • Copper
      • Copper Bars
      • Copper Rounds
      • Wheat Pennies
    • Accessories
      • Bar Accessories
      • Coin Accessories
  • Contact

Silver breaks higher – here are the levels to watch

Admin
May 4, 2021 Precious Metals News Comments Off on Silver breaks higher – here are the levels to watch


Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

(Wallace Refiners) – Silver has broken out of a strong resistance level at $26.71/oz during Monday’s session. The resistance was used at least six times on the four-hour chart below alone and took some strength to pass. As you can see from the bottom there was lots of volume on the breakout which confirms the validity of the break. 

This now makes the chart have another consecutive higher high and higher low waves since the low of $23.74.oz was noted on 30th March. The move was an interesting one as the price had been hanging around the psychological $26/oz area for a very long time and the directional break of the consolidation would give us a great clue to the future path of the precious metal. 

Now the price has moved into the higher distribution area between $26.71 and $28.42/oz the next mean value area stands at $27/oz. This is where most contracts have been traded in that range but there is another sticky level at $27.54/oz to watch out for. 

On the topside, the next major resistance is holding at the purple horizontal line at $28.42/oz and then beyond that the high of the chart at $30.35. On the downside, previous resistance at $26.71/oz is now the support zone to watch followed by the aforementioned $26/oz area. 

For now, the bulls are clearly back in charge and when the U.S. trades come back to the market it will be interesting to see if higher levels can be tested in the afternoon. 



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



Source link

breakshigherlevelsSilverwatch
admin

Calibre reports highest quarterly gold production in Nicaragua since Q3 2016Previous post
Gold, silver blindsided by hawkish Yellen commentsNext post

NEWSLETTER

Subscribe to our newsletter to get updates regarding our business and precious metal refining.

MY ACCOUNT

  • Cart
  • Checkout
  • On Sale
  • My account
  • Shop

ABOUT US

  • Sell To Us
  • Careers
  • About
  • Payments
  • Refine Jewelry

Address

Wallace Refiner’s Inc

+1 212-391-2211

15 W 47th St # 101, New York, NY 10036, United States

contact@wallacerefiners.com

©2020 Wallace Refiners - Wallace Precious Metals | All Rights Reserved.

Send Enquiry