Silver Makes a New High

Silver just posted its highest reach since January this year going as high as 18.45. Gold's little brother accumulated momentum since it hit support at 15.80 and then price reacted strongly bullish to make the highest high today.

This move comes after the initial bullish reaction post-Brexit which boosted Silver price to 18.30. Although Silver is 3.5% up today, Gold is only some $10 up or 3/4 of a percent. The reason behind the Silver rally is that bulls are trying to get to the other side, or in other words - 18.90. Once this is a fact, we might expect price to fluctuate aggressively until market participants pick a winner.

Immediate support is seen at 18.00.

Chart: XAG/USD D1