Trading Spot Silver: Analysis of Price Action

Trade Silver with Unum Capital.

To get started, email lester@unum.co.za

Q: What is the overall trend? A: The overall trend is bullish.

Q: What is the current 7-day trend? A: The current 7-day trend is high bullish momentum, approaching overbought.

Q: What is the current 14-day trend? A: The current 14-day trend is very bullish.

Q: Is there any opportunity for a short-term buy/long position? A: The information suggests caution with buying/long positions due to the overbought conditions and potential for failure to hold highs.

Q: Is there any opportunity for a short-term sell/short position? A: Yes, there is a potential short-term sell/short position opportunity if the attempt to hold the highs fails, and the price doesn't hold above the 8-EMA.

Q: What is the current position & trend for the short term (1 to 10 days)? A: The short-term position is a very strong move with buyers in control, but it's approaching overbought levels, suggesting potential for a pullback.

Q: What is the current position & trend for the medium term (2 to 4 weeks)? A: The medium-term position is an aggressive buying trend, but a strategy is to wait for an overshoot or failure to hold prior session range highs to short back to the 8-EMA.

Q: What is the current position & trend for the long term (5 to 8 weeks)? A: The long-term position has resumed a bull move in a strong upward trend.

The overall trend for Spot Silver is bullish, with both short-term and long-term indicators pointing upwards. However, the 7-day trend shows high bullish momentum approaching overbought conditions, suggesting a potential short-term pullback. The short-term strategy is to be cautious with buying, watch for failures to hold highs, and consider shorting if the price drops below the 8-EMA. The medium-term strategy involves waiting for an overshoot or failure to hold prior session range highs before shorting back to the 8-EMA. The long-term trend remains strongly bullish, indicating continued upward momentum over the next 5 to 8 weeks.

Lester Davids

Analyst: Unum Capital