A Great Bullish Run in Silver, As Safe Havens Continue to March Higher - Forex News by FX Leaders
Anyone wants to buy the retreat in Silver at the 100 SMA?

A Great Bullish Run in Silver, As Safe Havens Continue to March Higher

Posted Wednesday, May 26, 2021 by
Skerdian Meta • 1 min read

The traditional safe havens lost appeal in summer last year, with Gold reversing down from record highs above $2,000. The safe haven status was acquired by cryptocurrencies, in an uncertain world where no fiat currency is safe anymore, hence the surge in the crypto market since last summer.

But, the immense volatility in the cryptocurrency market has made traders rethink the safe haven status in recent month. The traditional sae havens attracted interest from investors again and in the last two months GOLD and Silver have been bullish.

Silver Live Chart

SILVER

Gold broke above $1,900 level for the first time since January, while Silver has been following a clean uptrend. The 100 SMA (green) has been doing a great job as support on the H4 chart, pushing the price higher after the retreats lower.

Today we are seeing another retreat lower but it has stalled at the 50 SMA (yellow) right now.  If SILVER pulls back lower to the 100 SMA, we might go long, so we are watching the price action to see if the 50 SMA will break soon.

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