Trading news

Silver – has it reached the bottom?

Weekly chart:

Silver is in the sixth arm of movement and is thereby in a very mature trend. A bottom formation could soon emerge in the big picture here.

Chart1

Daily chart:

The last downward movement was very severe, meaning that it is a very long way to the last correction zone. If a significant correction were to occur, then this could indeed be the start of a bottom formation.

Chart2

Hourly chart:

The beginning correction in the higher trend (daily chart) is showing as an uptrend in the hourly chart. This uptrend itself is currently in a correction (green rectangle) and is showing slight indications of picking up a new movement to the north. Anybody who prefers to trade corrections could trade this uptrend.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Thursday, 03 Dec, 2015 / 9:30

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