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Silver prices have risen due to a supply and demand gap, with demand outstripping supply for the fifth consecutive year. Industrial demand, driven by green energy, AI, and EVs, now accounts for 64% of global silver demand. A potential slowdown in China’s economy and prolonged high interest rates could dampen silver prices. Bullish Pennant pattern […]

The post Silver Price Outlook: Will Strong Demand and Tight Supply Keep Prices Shining? appeared first on Action Forex.

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20/01/2024

USDCAD Stuck Between Converging SMAs

USDCAD extends its rebound to a fresh 1-month high But does not manage to close above the 50-day SMA Momentum indicators turn positive USDCAD had been staging a solid recovery from its December low of 1.3176, but the 50-day simple moving average (SMA) prevented further gains. Despite the rejection, the 200-day SMA has been acting as a […]
18/01/2024

US SPX 500: Bulls Getting Lethargic, and At Risk of a Minor Corrective Decline

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19/01/2024

Technical Outlook and Review

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