Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Sell | Sell | Sell |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Neutral | Sell |
Alligator (13; 8; 5) | Sell | Sell | Sell |
SAR (0.02; 0.2) | Sell | Sell | Sell |
Aggregate | ⇘ | ⇒ | ⇘ |
Silver price continues to fall. However, the medium term descending channel has almost reached the support of a larger ascending channel. These facts combined press the forecasted of an upcoming surge. However, if one takes a look at the Dukascopy online chart available in the Trade Pattern Ideas section, it can be observed that on a massive scale the metal is set to continue the decline, as the most dominant pattern is a descending one. Due to these combined circumstances it is a tricky situation, which needs to be monitored closely. The metal's price will either rebound and surge to the 23.60% Fibonacci retracement level, which is located at the 16.97 mark, or pass the dominant trend's support.