Silver video 01. 06. 21.
Silver is lately looking to place above the resistance at $28. 30 while the US dollar is losing the opposite floor to a giant basket of coins.
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The US dollar index continues to try to get below 89. 75; If the US dollar index manages to stabilize below this level, it will move towards 89. 50, which will be bullish for silver and gold costs today.
Meanwhile, gold is going to gain a floor above the $1900 level. If this attempt is successful, gold will head to the next resistance in $1930, which will be up for silver and other valuable metals.
The gold/silver ratio has recently been checked to settle below ema 20 at 67. 65 and seeks to fall below the level 67. Si the gold/silver ratio falls below this level, it will head towards 66. 50, which will be up for silver.
I wish Treasury yields had evolved in a significant upward momentum today, but higher yields have put pressure on gold and silver. This is a smart signal for cash buyers as it indicates that current cash demand is strong.
Silver has been controlled to gain momentum to the upside and will sit above the resistance at $ 28. 30. The RSI is in moderate territory and there is plenty of room to gain more momentum should the right catalysts emerge.
If the cash settles above $28. 30, it will head to the next resistance point which is at $28. 90. A successful check of this point will push the cash towards the $29. 30. Si silver settles above the resistance at $29. 30, it will move to the next resistance at $29. 85.
On the other hand, the closest point for cash is at $27. 75. No significant grade has formed between $27. 75 and $28. 30, so cash can temporarily pass the check to $27. 75 if it grows down. A move below $27. 75 will pave the way for the checking account. the next point is at 20 EMA at $27. 55.
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