As we are heading towards the Diwali season , bullion lovers have started there purchasing. Above silver price moved 6 % in a yesterday session and currently trading above its crucial 50 and 100 SMA .
Interestingly, it has pierced its falling trend line and complex H/S pattern. But what attracted us is the volume characteristics . As we market, whenever volume gained more than 50% above its average 100 days volume. Post that silver gave an average 2500-3000 upside move.
As Diwali is getting closer, we assume Silver might regain its lost sheen and may attract more bottom scalpers.
