Silver Bulls Resurface Ahead of Nonfarm Payrolls

Whilst silver’s correction was a little deeper than we’d liked, its solid rebound from $23.00 it has seen it return to our bullish watchlist.

Commodities 12

In today’s video we update our silver analysis using the daily timeframe for the broader structure, then drill down to the intraday chart to finetune the bias over two-time horizons.

In yesterday's video, was openly asked if the correction on JPY pairs were complete. The answer was a resounding “no”. Out of the three markets covered, CAD/JPY did the best to try and not roll over and is just about managing to stay above the May high. It still shows potential to eventually break higher but, for now, we’re happy to step aside. EUR/JPY printed a bearish outside day and pulled back the monthly pivot and 50-day eMA, so that is removed. Whilst GBP/JPY literally rolled over and crashed through key support following the BOE’s decision to hold interest rates, thus firmly removing itself from the bullish watchlist.



How to trade with

Follow these easy steps to start trading with today:

  1. Open a account, or log-in if you’re already a customer.
  2. Search for the pair you want to trade in our award-winning platform.
  3. Choose your position and size, and your stop and limit levels.
  4. Place the trade.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account