Silver and Oil likely to Head North Soon
Silver got back to the broken resistance area formed between levels 20.90 and 21.30 and then pulled back. Now, the price of silver has reversed towards the north, leaving behind the broken range. The asset is targeting the resistance at the level of 24.75. So, let’s see what is going to happen next.
After a small rise from the supporting level of 15625, Bitcoin has been forming small candles for a couple of days in a row. This might signify the upcoming formation of the bullish flag. Bitcoin is likely to target the level of 18500 next.
The price of oil is moving in the supporting zone formed between the levels 82.38 and 83.79. Hence, oil might potentially jump at the beginning of the next trading week. So, let’s observe oil price movements in the supporting zone.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.