A fibonacci retracement was drawn for the latest run-up which is not entirely seen on the chart.
- Silver is trading above the 15, 50 and 100 day moving averages. The 15 DMA is under the 50, if the 15 should crossover the 50, the rating will change to bullish. (Neutral)
- The MACD Histogram crossed over the 0 line on Feb 2nd and is rising. (Bullish)
- Stochastics K and D line are both on the rise. (Bullish)
- The recent low for Silver was made on Jan 28 at $26.30 which touched the 23.6 level of the fibonacci retracement. (Drawn for the November/December run-up.)
- Silver is producing higher highs and higher lows. (Bullish)
Short term: Bullish
Long term: Bullish