Silver Prices Are Trying To Carve Out a Short-Term Low
Monday,21/03/2016|10:17GMTby
DailyFX News
Talking Points The overall trend is bullish above the March 16 low of $15.21 and bearish below it. The ...
Talking Points
The overall trend is bullish above the March 16 low of $15.21 and bearish below it.
The next resistance in line and potential target for bullish traders is last week’s high of $16.18.
The technical outlook from Friday still stands.
On Friday we stated that the overall trend is bullish above the March 16 low of $15.21 and traders may see a pullback to the $15.57 - $15.81 range as an opportunity to add to their bullish exposure. Today we are seeing signs of this scenario playing out.
The $15.57 - $15.81 range was derived using the Fibonacci retracement tool with the March 16 low of $15.21 and the March 18 high of $16.16 both used as reference points. A low in this area makes sense as the price is neutral in relation to the bullish trend in this zone and on Friday price was overbought in relation to its trend.
Last week’s high of $16.16 is the next resistance level in line and the potential target for bullish traders.
At this stage we suspect that price needs to break the March 16 low of $15.21 for traders to abandon their bullish view. On a break to this level, bearish traders may also step in, as a breach to the March 16 low of $15.21 may open the door for a decline to the March 3 low of $14.87.
The overall trend is bullish above the March 16 low of $15.21 and bearish below it.
The next resistance in line and potential target for bullish traders is last week’s high of $16.18.
The technical outlook from Friday still stands.
On Friday we stated that the overall trend is bullish above the March 16 low of $15.21 and traders may see a pullback to the $15.57 - $15.81 range as an opportunity to add to their bullish exposure. Today we are seeing signs of this scenario playing out.
The $15.57 - $15.81 range was derived using the Fibonacci retracement tool with the March 16 low of $15.21 and the March 18 high of $16.16 both used as reference points. A low in this area makes sense as the price is neutral in relation to the bullish trend in this zone and on Friday price was overbought in relation to its trend.
Last week’s high of $16.16 is the next resistance level in line and the potential target for bullish traders.
At this stage we suspect that price needs to break the March 16 low of $15.21 for traders to abandon their bullish view. On a break to this level, bearish traders may also step in, as a breach to the March 16 low of $15.21 may open the door for a decline to the March 3 low of $14.87.
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👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
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Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
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We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
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Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
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We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
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They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
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Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
