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Silver

1 Jul 2020 ‚óŹ 05:26 AM

On the quarterly chart of silver a bullish candlestick pattern after several years can be seen. An engulfing bull occurs when prices open lower but close higher than the last quarter's opening price. Higher time frame can this carry higher significance than short-term ones that are plentiful.

silver 010720

Along with this last night prices close higher pushing the daily momentum indicator to the buy side, meaning the green indicator crosses above its red 9 day exponential average. Prices are now at the upper Bollinger band at $ 18.16, and once this level is crossed it will start moving towards the upper end of the parallel channel near 20.60 or where the next wave is equal to the previous one near 21.10

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