As with the spot gold price silver also appears to have reached a pause point following its recent rally with the last few days finding sustained resistance at the $16.50 per ounce level.  The technical difference between the gold and silver charts is that silver prices remain firmly sandwiched between the moving averages and in addition have [...]

Spot silver prices largely followed the gold market last week closing significantly lower ending with a wide spread down candle which breached all three short term moving averages but finishing well above the 200 week average which currently in the $14 per ounce price handle.  Whilst the daily chart for spot silver has many similarities [...]

Spot price silver prices ended the trading week in a strongly bearish mood, following the wide spread down candle of Wednesday which first signalled the change in sentiment. Friday’s wide spread down candle further confirmed the move closing well below all three short term moving averages and marginally above the $17 per ounce price [...]

A relatively quiet week for spot silver prices which closed at virtually the same price as for the opening on Monday, and traded throughout in a very narrow range.  Friday’s candle was typical ending the day marginally lower and following two days of slightly higher prices.  From a technical perspective it is interesting to note [...]

Following the weak end to 2009, spot silver prices have started the new decade with a strong recovery, sparked by Monday’s wide spread up candle which breached both the 9 and 14 day moving averages, and was subsequently followed up with both Tuesday and Wednesday’s candles adding further to the positive sentiment, with today’s candle [...]

December has been an interesting time for trading the spot price silver market which initially suggested a strongly bullish move higher which was promptly reversed by the strongly bearish signal in late November which has since continued to be confirmed.  Last week’s price action reinforced this bearish sentiment with both Wednesday and Thursday finding strong [...]

The spot price silver chart replicated that of gold yesterday, ending the trading session with a hammer candle with a deep lower shadow, suggesting that the sell off over the last few days has now come to an end, and as a result we can expect to see silver prices move higher from here once [...]

An interesting end to the week for spot price silver, not so much for what it did do, but rather what it didn’t, given the steep fall in gold prices, which surprisingly was not replicated for the industrial metal, which although closed the day lower, suffered a far less severe fall than that seen on [...]

As outlined in yesterday’s spot price silver market report, the correlation between gold and silver seems to have been re-established in the last few days, and as a result yesterday’s minor pullback in gold prices, was replicated in the silver chart with a modest fall, with silver closing the trading session at $18.71 per ounce [...]

Spot price silver followed gold higher yesterday once again, as the correlation between the two commodities seems to have been reestablished once again, with silver ending the day with a relatively wide spread up candle which closed well above all three moving averages at the $19 per ounce price level, with $20 per ounce now [...]

Spot silver moved higher yesterday, ending the silver trading session with a wide spread up candle, which closed marginally above the high of Wednesday, and just below the 9 day moving average. However, despite this attempt to recover some of the losses of the last few weeks, the daily silver chart remains firmly bearish at [...]

Spot silver prices continued there healthy start to the new year with another day of gains, ending the silver trading session with a narrow spread up candle which flirted with the lower level of a significant resistance level in the 18.25 per ounce region. With yesterday’s candle breaching the 40 day moving average, and [...]

Spot price silver too followed the gold market lower last week ending the weekly silver trading session with a wide spread down bar which closed below both the 9 and 14 week moving averages.  This candle confirmed the strong bearish signal of the previous week where we saw a deep shooting star which first [...]

As I have outlined several times recently, the technical picture for silver and gold is very different at present. Whilst in the past the two commodities have found a close and positive correlation, this now appears to be breaking down and it is no longer a simple case of assuming that where gold prices go, [...]

Spot silver ended the trading session on Friday with a wide spread down candle, which reversed almost all the gains of Thursday, and suggested once again that we are in a bearish phase at present for spot silver prices. However, as I have outlined in several recent market commentaries for the industrial metal, for those [...]

Silver prices followed spot gold lower yesterday, ending the trading day with a wide spread down candle which marginally breached the 9 day moving average, suggesting that the recent sharp rally higher for spot silver, may have come to a temporary halt. Indeed the bearish engulfing signal could be a portent of a more significant [...]

Whilst gold prices ended the week with a bullish signal and a deep hammer on the daily gold chart, for silver the trading session on Friday was less convincing, with spot silver ending the session lower and with a relatively deep lower wick. Whilst the lower wick suggests a mildly bullish tone for silver prices [...]

The strong bullish signal, which I first outlined in Tuesday’s post for spot silver, of a doji gravestone followed by a deep hammer candle, duly delivered yesterday with a strong move higher for spot silver prices, which closed the silver trading session with a wide spread up candle which ended marginally above the 9 day [...]

The technical picture for spot silver remains very bullish following the strong buying signal of the last few days, with the gravestone doji candle being followed by a deep hammer candle on Monday, and repeated to a lesser extent in yesterday’s silver trading session which ended with a narrow spread down bar but again with [...]

Following the sharp sell off that followed the FOMC meeting on Wednesday and with all the commodity markets falling on Thursday, Friday was a relatively quiet day for spot silver prices, which initially rallied, only to close on the silver spot chart marginally lower with a narrow spread down bar, but with a deep wick [...]