Silver price rangebound, while oil finds support and natural gas reaches trendline resistance
The silver price continues to find itself in a range, while oil has stabilised after recent losses. Copper’s rally has brought it back to trendline resistance.
Silver stuck in a range
The price remains in a tight range between $22.50 and $23.50. For the moment, the buyers continue to defend the lower bound and have avoided any renewed turn lower. Equally, however, gains above $23.50 have proven impossible to sustain, and this leaves the price awaiting a catalyst for a breakout from this current range.
Brent holds at 100-day moving average
After retreating over the past week the price has found support at the 100-day SMA. Further gains and a move above $87.20 might help to provide a more bullish short-term view, targeting the 50-day SMA and then perhaps on towards the mid-October high. Sellers will need a close below $84.20 to open the way to another testo of the early October low.
Copper back at trendline resistance
The price gas returned to trendline resistance from the late August peak, and also to the 50-day SMA. Sellers will be on the lookout for a close back below 8100 to indicate a lower high has been created. This might then see the price head back towards the October lows at 7870. A close above 8200 then allows the price to push towards 8400, and then towards the early September highs around 8500.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
