Tuesday, October 27, 2015

Silver Analysis COT Chart

Let’s start first with the daily chart.
Silver has had a good start to the month of October but looks like it has run into a pretty solid wall of overhead resistance as we wind down the month. The sellers have come out in force near the $16 level and in the process, have managed to prevent the bulls from besting the 200 day moving average. As you can see on the chart, that moving average has held the market in check. (more)

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