Silver Price Analysis: XAG/USD bulls brace for a bumpy road past $24.00
09.01.2023, 02:15

Silver Price Analysis: XAG/USD bulls brace for a bumpy road past $24.00

  • Silver price seesaws around intraday top after bouncing off three-week low.
  • 100-SMA breakout joins bullish MACD signals to favor XAG/USD buyers.
  • One-week-old descending resistance line, horizontal area from December 21 challenge Silver bulls.

Silver price (XAG/USD) remains firmer around the intraday high of $24.04 as bulls keep the reins during early Monday. In doing so, the bright metal extends Friday’s U-turn from the lowest levels in two weeks.

That said, the bullion’s successful upside break of the 100-SMA joins the bullish MACD signals to underpin the latest recovery moves.

It should be noted, however, that multiple hurdles stand tall to challenge the XAG/USD bulls and hence the buyers remain skeptical at the moment.

Among the key resistances, a downward-sloping trend line from the last Tuesday, close to $24.20 by the press time, guards the quote’s immediate upside.

Following that, a horizontal area comprising multiple hurdle marked in the last 13 days, around $21.40, challenges the Silver buyers.

In a case where the XAG/USD remains firmer past $21.40, the monthly high around $21.55, also the highest level since late April 2022, will be crucial to watch.

Alternatively, Silver sellers may wait for a clear downside break of the 100-SMA, around $23.70 at the latest, before taking fresh positions.

Following that, the latest swing low and the 61.8% Fibonacci retracement level of the metal’s upside from December 06 2022 to January 03 2023, close to $23.10 and $23.00 in that order, could gain the market’s attention.

Silver price: Four-hour chart

Trend: Further upside expected

 

© 2000-2025. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik