Breaking News

Silver: A Break Above $21.25 Is an Important Buy Signal

By Jason SenCommoditiesMar 13, 2023 05:18AM ET

www.investing.com/analysis/silver-a-break-above-2125-is-an-important-buy-signal-200636150

By Jason Sen | Mar 13, 2023 05:18AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

XAU/USD

-1.10%

Add to/Remove from Watchlist

XAG/USD

-0.80%

Add to/Remove from Watchlist

Gold

-1.31%

Add to/Remove from Watchlist

Silver

-0.64%

Add to/Remove from Watchlist

+5.21%

Add to/Remove from Watchlist

Gold rocketed from 1827.50 up to 1870 in a straight line. I would guess as a safe haven as the second biggest bank collapse occurred.

Silver followed Gold higher but pulled back at close to half the gains in the day.

Crude Oil WTI Futures Crude MAY is stuck in a 4-month sideways triangle. This makes day trading levels difficult.

Silver Weekly Chart

Today's analysis

Gold shot higher through resistance at 1840/45 & even last week's high at 1858/59 to reach 1870. A $59 gain in 2 days, leaving a huge shooting star on the weekly chart after last week's bullish engulfing candle. If these candlesticks play out as expected, we should see further gains this week.

Holding support at 1863/60 & a break above last week's high at 1870 can target 1878/80. A break above 1883 targets 1890.

A break below 1858 however risks a slide to 1848/46. We should meet strong support at 1840/35. Longs need stops below 1830.

Silver holding above minor support at 20.50/40 can target strong resistance at 2095/2105. Shorts need stops above 21.25. A break higher is an important buy signal for this week targeting 21.60/70 & 21.90/99.

Longs at 20.50/40 need a stop below 20.30.

WTI Crude (May) ranges from 73.50/73.00 up to 82.00. We should have some support at the 2-week low at 75.00/74.75.

We should have resistance at the 2-day high at 77.75/78.00 & again at the upper end of the 6-week range at 80.50/80.90.

I really cannot do better than that at this stage. The market is erratic, random & volatile but not actually going anywhere week to week.

Comments (2)

Commodities Week Ahead: Oil Eyes Worst Quarter in 3 Years on Banking,... By Barani Krishnan/Investing.com - Mar 27, 2023 11

Crude futures looking at double-digit losses for quarter, without adequate rebound Banking crisis lumbers on, looking for next victim with shaky balance sheet Uncertainty over Fed...

Oil Back Above $70 By Alexander Kuptsikevich - Mar 27, 2023

WTI oil is back above $70 on Monday, having gained more than 2% since the start of the day. Today's short-term impulse is a halt in exports from Iraqi Kurdistan via Turkey. The...

Gold’s Ownership to Grow Even as the S&P Nets Inflow By Mark Mead Baillie - Mar 27, 2023 2

As on occasion we do, let's start with stocks, in opening with one of our infamous pop quizzes: Ready? The day before it all went wrong for the Silly Con Valley bank was 08 March....

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

Comments (1)

EltonMusk Mar 13, 2023 9:59AM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

🤔

1 0

Report

salman shabani Mar 13, 2023 9:59AM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

0 0

Report

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="200023791">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="200023791" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow js-option blockUser js-block-option" data-comment-id="{commentID}"  data-user-id="200023791" data-reg_ep="block user comments">
			<a href="javascript:void(0);">
				<span class="blockIcon middle"></span>Block User			</a>
		</div>
				<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="200023791">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="246995507">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="246995507" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="addRow js-option blockUser js-block-option" data-comment-id="{commentID}"  data-user-id="246995507" data-reg_ep="block user comments">
			<a href="javascript:void(0);">
				<span class="blockIcon middle"></span>Block User			</a>
		</div>
				<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="246995507">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Thank You!

Your report has been sent to our moderators for review

More Categories

1D1W1M6M1Y5YMax

US 30	32,491.1	+253.6	+0.79%
US 500	3,987.5	+16.5	+0.42%
Dow Jones	32,491.23	+253.70	+0.79%
S&P 500	3,987.73	+16.74	+0.42%
Nasdaq	11,807.68	-16.28	-0.14%
S&P 500 VIX	20.83	-0.91	-4.19%
Dollar Index	102.515	-0.249	-0.24%

Crude Oil WTI	72.87	+3.61	+5.21%
Brent Oil	77.68	+3.09	+4.14%
Natural Gas	2.232	-0.129	-5.46%
Gold	1,975.45	-26.25	-1.31%
Silver	23.190	-0.149	-0.64%
Copper	4.0930	+0.0180	+0.44%
US Soybeans	1,441.25	+13.25	+0.93%

U.S. 10Y	3.524	+0.146	+4.33%
U.S. 30Y	3.757	+0.113	+3.10%
U.S. 5Y	3.5894	+0.1810	+5.32%
U.S. 3M	4.7131	+0.0230	+0.49%
US 10Y T-Note	115.00	-1.11	-0.96%
Euro Bund	136.28	-1.47	-1.07%
10-2 Yield Spread	-39.80	+1.68	+-4.05%

Apple	158.87	-1.38	-0.86%
Alphabet A	103.09	-2.35	-2.23%
Tesla	193.07	+2.66	+1.40%
Amazon.com	98.33	+0.20	+0.20%
Netflix	327.50	-0.89	-0.27%
Meta Platforms	203.40	-2.61	-1.27%
Bank of America	28.51	+1.37	+5.05%

	Interest Rates	Next Meeting
FED	5.00%	May 03, 2023
ECB	3.50%	May 04, 2023
BOE	4.25%	May 11, 2023
SNB	1.50%	Jun 22, 2023
RBA	3.60%	Apr 04, 2023
BOC	4.50%	Apr 12, 2023
RBNZ	4.75%	May 24, 2023
BOJ	-0.10%	Apr 28, 2023
CBR	7.50%	Apr 28, 2023
RBI	6.50%	Apr 03, 2023
PBOC	3.65%
BCB	13.75%	May 03, 2023

Silver: A Break Above $21.25 Is an Important Buy Signal

Today's analysis

Related Articles