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FxWirePro: Bulls in charge in Silver; ‘Dragon-fly’ doji lends support

Bulls in charge,

  • After a brief sell-off that began late Friday, bulls are back in charge in silver to begin the week.
  • Weakness in the USD is providing the necessary support along with the bullish ‘Dragon-fly’ Doji in the 8-hourly chart.

Silver is currently trading at $15.32 per troy ounce.

  • Bulls are now targeting $15.37 area, which is Thursday’s peak. A break of the peak would push the price towards last week’s peak around $15.5 area.
  • We expect the white metal to face selling pressure, once it approaches $15.75-85 per troy ounce resistance zone.  
  • Market Data
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