{"id":18614,"date":"2011-01-25T08:44:57","date_gmt":"2011-01-25T13:44:57","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18614"},"modified":"2011-01-25T08:44:57","modified_gmt":"2011-01-25T13:44:57","slug":"silver-set-for-a-bullish-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/25\/silver-set-for-a-bullish-correction\/","title":{"rendered":"Silver Set for a Bullish Correction"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong><\/p>\n<p>Since markets opened this week, the price of <a href=\"http:\/\/www.forexyard.com\/en\/trading\/silver\">silver<\/a> has dropped over 130 pips and is currently trading around the 26.60 level.  <a href=\"http:\/\/www.forexyard.com\/en\/technical-indicators\">Technical indicators <\/a>are  now showing that the precious metal may be due for a bullish correction  in the near future.  This could give ForexYard traders an excellent  opportunity to open buy positions at a great entry price before the  upward breach occurs.<\/p>\n<p>We will be looking at the daily chart  for silver.  The technical indicators being analyzed are the Williams  Percent Range, Stochastic Slow and Relative Strength Index.<\/p>\n<p>1. The Williams Percent Range is currently at the -90 level, well  below what is considered to be oversold territory.  Typically, when a  commodity reaches this level, an upward correction soon follows.<\/p>\n<p>2. The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic Slow <\/a>has just formed a bullish cross, further signaling that an upward correction is likely to occur.<\/p>\n<p>3. The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index <\/a>is currently approaching the oversold region. Should it breach the lower support line, silver will likely start to move north.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/silver-tech.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/silver-tech.bmp\" alt=\"\" width=\"535\" height=\"521\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                                                                                                                                                                                        may                 not             be                                                  suitable                     for                      all                                                                               investors.                                        There                               is          a                                                                                                                                possibility                                              that                                                               you                                           could                                                          sustain  a                       loss                                      of              all                         of                                     your                                                                                                                    investment              and                                                                                                therefore              you                                                                              should                       not                                                        invest                                                         money                       that                              you                                                                          cannot                                                   afford          to                                                               lose.                  You                                                                        should                          be                                      aware                       of                                                  all                                the                                risks                                                                                                 associated                                      with                                               Foreign                                                                   Exchange                                                                            trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since markets opened this week, the price of silver has dropped over 130 pips and is currently trading around the 26.60 level. Technical indicators are now showing that the precious metal may be due for a bullish correction in the near future.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18614","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18614"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18614\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}