Silver/USD per Oz(28gram) Derived Data Outlook
" Silver Prices have been followed for centuries. Silver (XAG) is a precious metal used in jewelry, silverware, electronics, and currency. Silver prices are widely followed in financial markets around the world. Silver has been traded for thousands of years and was once used for currency backing. Silver continues to be one of the most commonly traded commodities today. Silver prices are highly volatile due to speculation and supply and demand. Ag is the chemical symbol for silver on the periodic table of elements and its ISO currency symbol is XAG. " Cited from tradingview
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Silver from 2016 until present is bearish and approaching it's potential support that deter it's fate for long term.
take a closer look,
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Resistance at +- 15.177 ( 200 SMA and the down trendline since 2016).
Support at +- 14.268 ( recent low and been a support from a past time)
As for DMI it's still bearish as DMI+ below DMI-, although it's getting closer in each day indicate Bullish and bearish will meet and decide whos the winner in short time.
This chart would be invalidated if the price cross below green potential support area as silver would mostly enter a deeper correction if the support is broken.
peace,,,
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
i've been waiting for 3,5 years now for gold and silver to bull their s**** together 😁
Fundamentally, both of those metals should be valued much-much-much higher today (especially silver, as the silver to gold comparison spread is biggest in history - based on what / even if the price of gold would stay at the same level it is today / silver should be around $50+ mark minimum). Cant manipulate this price forever. Free market will catch up sooner or later 😉
agree with you sir.. seems silver is being suppressed in price.. i'm interest also with silver as following a progress toward future with many things are more reliable with electricity.. being a one of the good conductor component for electrical tools which is silver (aside copper) is a good investment to diversified for me personally as a demand would also took in effect.
well thats the thing; on top of the monetary value silver also has so many use cases where its physically used in electronics and conductors etc. It has been said that about 95% of silver is already mined which means almost no inflation left and begs the question why does it not increase alongside with dollar or moreover with gold. I believe it leaves the door open for great investment opportunities! But is is a long game, so we gotta stay patient.