Silver and Oil Bulls are in Control: What’s Next?
Silver is undergoing correction right now. Currently, the asset is approaching the broken neckline of the double top located at the level of 24.75. Silver might potentially rebound from the broken level and drop to gain the required support at the level of 22.40.
Oil has approached the supporting level of 71.50, forming the candle with a very long lower shadow. Black gold might rise, but let’s check the price formations on Thursday. The asset might also break the support, but this is a totally different story. Time will tell what might happen next.
American stock index S&P 500 has managed to dive back under the resistance level of 4195 and form a false breakout. Now, the index is likely to rebound to the level of 4060 and the broken side of the diamond, and head north.
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