Silver (CME) (Z3) intraday: above its upper Bollinger band
Our pivot point stands at 23.27.
Our preference: the upside prevails as long as 23.27 is support.
Alternative scenario: the downside breakout of 23.27 would call for 23.06 and 22.93.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Silver (CME) (Z3) is above its 20 and 50 period moving average (respectively at 23.39 and 23.38). Finally, the Silver (CME) (Z3) is trading above its upper Bollinger band (standing at 23.44).
Supports and resistances:
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