Charted

Silver Might Be Awakening From Its Slumber

A bullish trendline since 2003 has at least one analyst seeing higher prices

Silver has traded mostly in a tight range between $16 and $17 an ounce since early February, but that may be about to change given increasing demand and a narrowing surplus. The very long-term picture is still bullish as shown by the rising trendline on the monthly chart, according to Fawad Razaqzada, an analyst at brokerage Forex.com in London. “With silver also positing a few higher lows on the smaller daily time frame, this suggests it could be about to stage a significant breakout,” he says.

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