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Silver Price Forecast – Silver Hanging at 50 Day EMA19/1/2021

Silver markets initially gapped a little bit lower to kick off the trading session on Tuesday but then turned around to show signs of strength again. The market has reached towards the $26 level, which is an area that had previously been resistance. Nonetheless, I think it is only a matter of time before buyers come back in and take advantage of “cheap silver”, as it has found the 50 day EMA to be interesting more than once. To get more news about WikiFX, you can visit wikifx official website.Furthermore, we had formed a bit of a hammer from the previous session, so that was the first sign that we could see a bit of support coming into the market to reach towards the upside again.

  The 50 day EMA is not necessarily the “be-all and end-all”, but it certainly does tend to attract a certain amount of attention. The $24 level underneath is likely to be supported, as it has shown itself to be more than once in the past. Nonetheless, the fact that we have broken above the $26 level before suggests that we very well could again, perhaps reaching towards the $28 level. I do not think that it is a market that will eventually go much higher than that, due to the fact that the US dollar will continue to be eviscerated.

  The 200 day EMA underneath is sitting at the $22.77 level, and that could of course attract a certain amount of support as well. Regardless, I think that the market is one that you cannot be a seller of, so I think every time we dip you should be looking at potentially adding just a bit of silver to a longer-term position.

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Natural Gas Price Prediction19/1/2021
Natural gas prices moved higher on Tuesday despite a normal to warmer than normal weather forecast that will not likely help demand. Prices appear to be moving higher in sympathy with oil prices. On Thursday, the Energy Department will release its inventory report. Expectations are for a 131 Bcf draw in stockpiles according to survey provider Estimize. U.S. LNG exports declined week over week.To get more news about WikiFX, you can visit wikifx official website.

  Technical Analysis

  Natural gas prices moved higher on Tuesday but closed off the highs of the trading session. Prices recapture resistance, which is now support near the 50-day moving average at 2.77. Resistance is seen near the late November highs near 2.98. Medium-term momentum remains positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices. The RSI also broke out hitting the highest level since October which reflects accelerating positive momentum.

  LNG Exports Decline

  U.S. LNG exports decrease week over week. According to the EIA, Twenty one LNG vessels with a combined LNG-carrying capacity of 77 Bcf departed the United States between December 31, 2020 and January 6, 2021.

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