I’m multi-tasking here today with a bit of beach, pool, charting and now also the tennis (Australian Open). Keep an eye on Silver, as well as Gold, as Silver looks to be consolidating ahead of its next move. The same drill applies: watch trend lines for any momentum-based breakout.
Silver 60 min:
Silver 4hr: Watch the 4hr chart’s 61.8% fib near $16 for any bearish breakout move:
Silver daily: For any bullish breakout move watch the daily chart’s 50% fib near the $18.50 level and also near the wedge trend line plus also the 61.8% fib near the $19 level:
The next move with Silver will most likely depend on which way the US$ heads from here and the index seems to be on struggle street at the moment:
US$ index daily: