{"id":3315,"date":"2021-02-04T08:16:00","date_gmt":"2021-02-04T08:16:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=3315"},"modified":"2021-02-04T11:28:55","modified_gmt":"2021-02-04T11:28:55","slug":"silver-technical-analysis-still-bullish-despite-brutal-price-crash","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/silver-technical-analysis-still-bullish-despite-brutal-price-crash\/","title":{"rendered":"Silver Technical Analysis &#8211; Still bullish despite brutal price crash"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3315\" class=\"elementor elementor-3315\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2a4d50a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2a4d50a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0c5da6d\" data-id=\"0c5da6d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad5faf1 elementor-widget elementor-widget-text-editor\" data-id=\"ad5faf1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The price of <a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\" rel=\"noopener\">silver<\/a> endured a brutal price crash earlier this week as the shiny metal fell towards the $26.00 support area after trading as high as $30.00 on Monday. The reversal was apparently triggered by the CME drastically increasingly margin requirements for silver traders.<\/p><p>One key aspect to remember is that the price of silver is still trading substantially higher on a two-week basis, and the recent price retrace basically helped close a massive price gap on the Monday market opening.<\/p><p>Other things to consider are the short-term and overall price trend. The short-term trend in silver is still bullish while the price holds above its 200-period moving average on the four-hour time frame, at $26.00. This means that despite the near $4.00 pullback, silver is actually still bullish in the short-term.<\/p><p>We also have to consider the overall price trend. Silver\u2019s 200-day moving average is found around the $22.00, meaning that silver would need to sink by a further $4.50 from current levels to go into a bear market.<\/p><p>Going forward, a break above the $30.00 level would be a true statement of intent by silver bulls. Silver buyer have failed on numerous occasions to surpass the $30.00 benchmark level. Perhaps it is now the most important level on the silver chart.<\/p><p>The next few days are going to be crucial for the price of silver. Any hint of weakness under the $26.00 level and short-term selling is likely to dramatically increase. Alternatively, price stabilization around current levels could encourage the notion that a meaningful low is already in.<\/p><p>Something else to watch is the <a href=\"https:\/\/bit.ly\/37m9dMU\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a>. The greenback is starting to firm across the board and this could create headwinds for the price silver. Typically, when the US dollar index is trending higher the price of silver will go in the opposite direction.<\/p><p><strong>Silver Sentiment Analysis<\/strong><\/p><p>Market sentiment towards silver is surprisingly bullish at the moment. The ActivTrader market sentiment tool shows that 72 percent of traders are bullish towards silver at the moment, despite the huge price pullback.<\/p><p>This is slightly alarming, and it potentially means that silver traders do not believe that the shiny metal can continue to trade lower, due to the fact that many retail traders intend to push the silver higher over the coming weeks.<\/p><p>I would be very nervous towards taking a long silver position if the price continues to fall, and the crowd continue to remain so overly bullish towards the metal.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a37cf78 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a37cf78\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c3347b3\" data-id=\"c3347b3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3fbb36b elementor-widget elementor-widget-image\" data-id=\"3fbb36b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"298\" height=\"104\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/02\/SILVER-CHART.png\" class=\"attachment-large size-large wp-image-3318\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8208834 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8208834\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c8a7f5\" data-id=\"4c8a7f5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63b73d5 elementor-widget elementor-widget-text-editor\" data-id=\"63b73d5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-66cf04e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66cf04e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dcfbdd9\" data-id=\"dcfbdd9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-debb48c elementor-widget elementor-widget-text-editor\" data-id=\"debb48c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Silver Technical Analysis<\/strong><\/p><p>The daily time frame shows that a bullish a bullish price pattern was formed during the latest move towards $30.00. Infact, the pattern in question appears to be a second cup and handle pattern formation.<\/p><p>On the weekly time frame a cup and handle pattern has been building for some time, and continues to point towards the $60.00 level. This new cup and handle pattern has a slightly lower target of $40.00.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b6d5f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b6d5f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a9551da\" data-id=\"a9551da\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-779b496 elementor-widget elementor-widget-image\" data-id=\"779b496\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"301\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/02\/silver-1d-1.png\" class=\"attachment-large size-large wp-image-3320\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7a61a7d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a61a7d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a13466\" data-id=\"5a13466\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-189cb47 elementor-widget elementor-widget-text-editor\" data-id=\"189cb47\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Source by ActivTrader.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-213a441 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"213a441\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-92523a0\" data-id=\"92523a0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6b7a73b elementor-widget elementor-widget-text-editor\" data-id=\"6b7a73b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>In order for bulls to trigger both of these extremely bullish price patterns they need to move silver above the $30.00 level. This would explain why the $30.00 level has been such a sensitive price area over recent weeks and months.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The price of silver endured a brutal price crash earlier this week as the shiny metal fell towards the $26.00 support area after trading as high as $30.00 on Monday. The reversal was apparently triggered by the CME drastically increasingly margin requirements for silver traders. One key aspect to remember is that the price of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,9],"tags":[49,40],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Silver Technical Analysis - Still bullish despite brutal price crash - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/silver-technical-analysis-still-bullish-despite-brutal-price-crash\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Technical Analysis - Still bullish despite brutal price crash\" \/>\n<meta property=\"og:description\" content=\"The price of silver endured a brutal price crash earlier this week as the shiny metal fell towards the $26.00 support area after trading as high as $30.00 on Monday. The reversal was apparently triggered by the CME drastically increasingly margin requirements for silver traders. One key aspect to remember is that the price of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/silver-technical-analysis-still-bullish-despite-brutal-price-crash\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-04T08:16:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-04T11:28:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/02\/GettyImages-1216828076.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"479\" \/>\n\t<meta property=\"og:image:height\" content=\"309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/silver-technical-analysis-still-bullish-despite-brutal-price-crash\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/silver-technical-analysis-still-bullish-despite-brutal-price-crash\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Silver Technical Analysis &#8211; 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He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. 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The reversal was apparently triggered by the CME drastically increasingly margin requirements for silver traders. 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