Silver Pivot Points
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The silver market rallied quite significantly on Wednesday, exploding to the upside as the US dollar got hammered.
Silver markets have gone back and forth during the trading session on Monday to show signs of hesitancy to move in either direction.
Silver markets went back and forth on Wednesday as we continue to hang about the 50-day EMA.
Silver markets rallied significantly on Friday to close out the year on the right foot, as we have closed significantly above the 50-day EMA.
Silver markets fell on Wednesday as the 50 day EMA has offered a significant amount of resistance.
Silver markets initially fell on Monday but then turned around to show signs of strength yet again.
Silver markets have had a couple of good sessions, as we are now hanging about the $22.94 level.
Silver markets rallied on Wednesday to reach towards the $22.75 level.
The silver markets initially tried to rally on Friday but gave back gains as the $22.60 level continues to be a bit too much to overcome.
Silver markets have had a big day on Thursday to reach towards the $22.50 level.
The silver market initially plunged on Wednesday but then turned around to show signs of life again.
Silver markets rallied a bit on Monday but also gave back quite a bit of the gains.
Silver markets dipped initially on Friday to reach below the $22 level, so it is likely that we would see a lot of support.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of December 13, 2021 here.
Silver finally stabilize as the markets finally slowed the massive selling pressure that had been so pervasive the last several sessions.
Silver markets initially tried to rally on Tuesday but got absolutely slammed after Jerome Powell suggested that inflation is no longer considered to be “transitory.”
Silver markets fell pretty significantly on Friday, as we had seen a lot of “risk off behavior” around the world.
Silver markets initially tried to rally on Monday but struggled at the $25 level.
The silver market initially fell on Wednesday but found enough buyers to turn things back around.
Silver markets initially dipped on Monday but found enough support below near the 50-day EMA to send the market back to the upside.