Silver Stayed in the Trend After Testing the Lower Line
Burc Oran
February 19, 2021
XAGUSD Daily Chart
XAGUSD Daily Chart

Silver strongly reversed to the north after testing the lower line of the bullish trend channel. As long as the price holds above 26,00, bullish pressure may start to rise again. 27.90 can be followed as confirmation for upward moves. But bullish traders should be careful if the trend channel is broken.

Gold-Silver-Platinum-Palladium ETF Holdings, Percentage Increase - Daily Chart - YTD
Gold-Silver-Platinum-Palladium ETF Holdings, Percentage Increase – Daily Chart – YTD

From the start of the year, interest in silver is increasing. ETFs’ silver holdings increase more than %9 just in two months while ETFs’ sold gold, buy platinum and palladium around %2.5 and %1.5. Silver’s advantage may create pair trading opportunities against gold.

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