Silver futures price seems ready to shine under the umbrella of current politico-economic upheavals causing financial imbalances in the global economy, clearly visible in the movement of dollar index. As I mentioned in my last analysis “Silver Seems Steady For A Strong Up Trend”, in a 30 Minute Chart Silver futures price was trading at $17.638 on March 23rd, 2017. In the same manner, when my I submitted my analysis “Silver: Expected Trading Zone” in a 4 Hr. Chart on March 25th , 2017, Silver futures price $17.780 and I predicted a strong uptrend during the week of March 26th , 2017. Now the current position of the movement of Silver futures price may be seen in same chart on the last trading session of the week on March 31st, 2017 as follows:-
On analysis the movement of Silver futures price in different time zones, I find that the politico-economic global situations though seems to enhance uncertainty where precious metals get full opportunity to be in the complete grip of bulls. After a gap up opening on the first trading session of the week of March 26th, 2017, Silver futures price successfully maintained a position in a higher zone, which provides enough evidence for presence of buyers at the current level.
I find that the upcoming economic events during the week of April 2nd, 2017 will definitely define the future direction to strengthen more up moves in Silver futures price. Though, the Silver futures price may face a stiff resistance at the levels of $18.350 but I find that the current position of most of the moving averages indicate a probability for a gap up opening in Silver futures price on the first trading session of the week of April 2nd, 2017 will give a new dimension to this uptrend in Silver futures price in the days ahead.
Have a Nice Trading Time
Disclaimer: This analysis is purely based on the technical observations. I do not have any position in silver. One can create position in silver at his/her own risk.