$ 22.00 is the resistance level. Silver has rebounded to $ 20.00 giving it support from the $ 18.00 plus price where it hit a low. It appears the big money is watching that resistance point.
Some points to make here for thought and your input is welcome.
Gold to Silver ratio is rather high. Some think Silver will have higher gains than Gold eventually.
Chart wise, indicators are showing oversold with the PPO Charting lines crossing over. PPO is Percentage Price Oscilator which is similar to the MACD. A sign usually of strengthened buying coming in after the lines cross. It is in fact at a very oversold level also currently with the cross over and the purchasing we have seen the last several days. Usually after 3 or 4 days up there can be a pause, however depending on the amount of short covering can contradict that statistic. It is at the lowest level going back to 2010.
Looking at another chart $ 27.50 appears to be another key price range if it continues up to that level.
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