Silver takes off

Welcome to a quick update of Silver (XAGUSD).

After the low of March 31st, which was hit exactly, there was a dynamic upward movement up to the targeted reaction high around April 12th. The setup could be prepared and supervised in peace. The position was never endangered.

Turnaround date and high (April 12th) are just a reaction high! We are currently not active on the short side, as, as already mentioned, the inflation rate will soon prevail in precious metals.

Silver is currently within an activity zone. A reset in the form of a normal correction can occur here at any time. However, if silver can successfully overcome said activity zone above USD 25.83, a further increase to USD 26.60 for the time being and USD 28.00 later can be expected. An excerpt from past turnaround dates:

- High April 12th (tolerance 2 days)

- Low March 31st (tolerance 0 days)

- High February 24th (tolerance 1 day)

- Low January 19 (tolerance 1 day)

- High January 7th (tolerance 1 day)

- Low December 15 (tolerance 2 days)

- High December 9th (tolerance 1 day)

- Low November 30th (tolerance 0 days)

- High November 6th (tolerance 1 day)

- Low October 29th (tolerance 0 days)