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After two days of intense struggle (Monday and Tuesday) between the bulls and bears along the price channel line amid heightened volatility, yesterday we saw the outcome — the bulls won, pushing silver's price up by $0.525.
The signal line of the Marlin oscillator is turning upward from the neutral zero line. A break above the nearest resistance level at 36.840 will pave the way for a new target at 38.500. Slightly above that lies the upper boundary of the 75-week price channel.
On the four-hour chart, the price has consolidated above both indicator lines, while the Marlin oscillator continues to develop an upward trend in positive territory. A breakout above yesterday's high at 36.53 would allow silver to continue rising toward 36.84.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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