Silver rises by 5% on the day

Technical Analysis

Author: Greg Michalowski | silver

Rises to $25.06

The price of silver has moved up to a high price of $25.06. That has taken the price over 5% on the day. The current price is trading at $25, up $1.17 or 4.92% on the day.  

Rises to $25.06

Technically, looking at the daily chart above, the price bottomed in September right near the 100 day MA (blue line). In October, the swing low has stalled at the 38.2% at $22.90.  The price high today has taken the price to the highest level since September 22. 

The next major target on the daily chart comes in at swing lows from August and September between $25.85 and $26.04.  

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