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Silver technical analysis

Tech analysis by Simon Kazinsky on 12:27 August 25, 2016 EST



Silver is lingering at an important support. After climbing above $21/oz a few weeks ago the asset has been correcting since.

The metal broke important long term resistances earlier in the year and, since then, our view is bullish on this instrument.

I am looking for signs that price action is sensitive to this level. If silver manages to set some blue candles on the days to come we will be in a position to assume the market took notice of this level and that the medium term structure still points to further gains.



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