[Video] Silver Rally Falters Below $25

Silver’s short-covering rally has covered an impressive 15% rise over the past 17 session, suggesting it may be time to mean revert.

Matt Simpson financial analyst
By :  ,  Market Analyst
October 25, 2021 5:08 AM
commodities trading
Matt Simpson financial analyst
By :  ,  Market Analyst

 

As for an update to Friday’s video, the Japanese yen continued to strengthen which saw several crosses move lower from arguably extended bullish runs.  USD/JPY is comfortably below 114 and AUD/JPY touched a 4-day low. Whilst their trends remain bullish overall it is not yet apparent their corrections are complete.

View this week's COT report (commitment of traders) to see how large speculators were positioned last week. 

 

 

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Related tags: Trade Ideas Commodities Silver XAG/USD Video
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