Silver
Time frame: D1
Technical analysis: The chart shows that the price of silver is moving in an upward trend. It has entered a consolidation period since the beginning of September. Currently silver is near the down trend diagonal and the 50 period average, and they play the role of resistance. When these two resistances are reached, it is possible to see another decline at least until the support of the channel.
Indicators: 50 periodic average plays the role of resistance and 200 periodic support.
DeM is approaching its overbought values, which supports the "sell" scenario.
Alternative scenario: If the main diagonal, 50 period and 23.6 Fibonacci is broken, we can see an increase to the next strong resistance at 38.2.
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