Silver markets were returning back and forth during trading on Tuesday because we still see a lot of noise in precious metals. Of course, the US dollar has a big impact on what's happening with precious metals, so don't forget. Recently, however, we have seen so much noise that silver is difficult to trade. Remember, silver is extremely volatile at best, and if you trade in the futures market, it can be relatively expensive if you are wrong when trading with 5000 oz. We currently have a few technical things to look out for.
Just above that we have a 50-day EMA, followed by a 200-day EMA. Looking at this graph is also a falling wedge, which is sometimes a bullish sign when we break above the downtrend line. If we look at this chart, if we go up, we could go up to $ 16.00, but this seems very unlikely in the short term. We need to see a very impulsive candle and we need to be very patient because there are so many resistive areas just above them.
Looking at this chart, I also see a lot of support below $ 14.75, so breaking it down could break this market to $ 14.50 and then $ 14.25. One thing is for sure, we'll see a lot of noise in this market, so you should be patient and wait for an impulsive candle to take advantage of.