“Silver Breaks Monthly Resistance, Opening Up Potential for Significant Upside Moves #Silver $XAGUSD”
You may also like to watch : Who Is Kamala Harris? Biography - Parents - Husband - Sister - Career - Indian - Jamaican Heritage
Silver keeps going. For what it’s worth, now breaking the monthly downward-sloping resistance.
lot’s of clear open space next.
when Silver moves, history shows it’s 100% PLUS moves.#Silver $XAGUSD pic.twitter.com/326AXBCxY0— Gold Ventures 🟡 (@TheLastDegree) November 28, 2023
https://platform.twitter.com/widgets.js
You may also like to watch: Is US-NATO Prepared For A Potential Nuclear War With Russia - China And North Korea?
Silver Breaks Monthly Downward-Sloping Resistance, Indicating Potential for Significant Price Surge
In a surprising turn of events, silver prices have broken through their monthly downward-sloping resistance, suggesting the possibility of a substantial price surge in the near future. The news has sparked excitement among investors and traders, who are closely monitoring the precious metal’s movements.
The breakthrough was first highlighted by Gold Ventures, a prominent financial analysis account on Twitter. The account posted a chart showing the silver price’s recent upward trajectory, accompanied by the caption, “Silver keeps going. For what it’s worth, now breaking the monthly downward-sloping resistance. Lots of clear open space next. When Silver moves, history shows it’s 100% PLUS moves.”
The chart, which displays a clear upward trend in silver prices, has garnered significant attention within the investment community. Many experts believe that this breakthrough may mark the beginning of a new bullish phase for silver, with the potential for substantial gains in the coming months.
Historical data supports the notion that when silver starts moving, it tends to make significant gains. This has been observed in previous market cycles, where silver prices have experienced 100% or more increases. Investors who have taken note of this trend are now eagerly anticipating the possibility of similar gains during this upward phase.
The recent breakthrough in silver prices is also significant because it suggests that the metal has surpassed a key resistance level. Resistance levels are price points at which selling pressure typically increases, preventing further upward movement. By breaking through this resistance, silver has demonstrated its strength and potential to continue its ascent.
Market analysts are now closely watching for any signs of consolidation or pullback in silver prices. While the current momentum appears strong, it is important to be cautious in the face of potential market fluctuations. However, the positive sentiment surrounding silver’s recent performance has bolstered investor confidence, leading to increased interest in the metal.
The rise in silver prices could also have implications for other precious metals, such as gold. Historically, silver and gold prices have exhibited a positive correlation, meaning that when one metal sees a significant price increase, the other often follows suit. If silver continues its upward trajectory, it may signal a potential rise in gold prices as well.
As silver breaks through its monthly downward-sloping resistance, investors and traders are eagerly awaiting further price movements. The potential for significant gains and the historical precedent of silver’s 100% plus moves have created an atmosphere of excitement and optimism in the market. However, it is important to approach these developments with caution and remain vigilant for any potential market fluctuations..
Source
@TheLastDegree said Silver keeps going. For what it's worth, now breaking the monthly downward-sloping resistance. lot's of clear open space next. when Silver moves, history shows it's 100% PLUS moves. #Silver $XAGUSD
RELATED STORY.
