Silver Technical Analysis – Important Test of Previously Broken 1-yr Trend-line

Silver Technical Analysis – Important Test of Previously Broken 1-yr Trend-line

Silver Technical Analysis: at March trend-line

The silver price outlook may hinge on how things play out here at the retest of the broken March trend-line. A break of a trend-line doesn’t necessarily mean a trend change is imminent, but it is can certainly be an early warning sign. A turn back lower from here would bring into play support surrounding the 200-day at 24.21, but a break below there could set into motion a larger down-move. A recapturing of the line may help bolster the prospects of seeing silver reassert its longer-term uptrend. See the video for details.

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Silver Daily Chart (March trend-line retest in play)

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Silver Chart by TradingView

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Originally Posted on: https://www.dailyfx.com/forex/technical/home/analysis/xag-usd/2021/03/11/Silver-Technical-Analysis-Important-Test-of-Previously-Broken-1-yr-Trend-line-PRtech.html
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