Silver Price Analysis: XAG/USD eases from key EMA confluence below $22.00
16.03.2023, 01:53

Silver Price Analysis: XAG/USD eases from key EMA confluence below $22.00

  • Silver price takes offers to refresh intraday low, extends late Wednesday’s pullback from five-week high.
  • Multiple key Exponential Moving Averages (EMAs) challenge XAG/USD bulls even as MACD signals favor upside.
  • 6.5-month-old ascending trend line appears the key support to watch.

Silver price (XAG/USD) renews intraday low near $21.70 as it consolidates the previous day’s gains, extending pullback from a five-week high, during early Thursday. In doing so, the bright metal portrays the fourth consecutive failure on a day to cross the convergence of the key Exponential Moving Averages (EMAs).

That said, the 50-EMA joins 100-EMA and 200-EMA to highlight $21.80-90 region as a tough nut to crack for the Silver buyers.

Even so, bullish MACD signals join an upward-sloping trend line from the early September 2022 to restrict immediate downside of the XAG/USD around $20.00.

Ahead of that, the previous weekly top around $21.30 and the $21.00 could lure the Silver bears.

In a case where the Silver price remains bearish past $20.00, the odds of witnessing a slump towards November 2022 low near $18.80 can’t be ruled out.

On the flip side, a daily closing beyond the $21.90 appears necessary for the XAG/USD bulls to retake control.

Even so, the $22.00 threshold and January’s low near $22.75 could challenge the Silver buyers before giving them control.

Overall, Silver price remains far from the buyer’s radar unless crossing $21.90. However, the downside room also appears limited.

Silver price: Daily chart

Trend: Further weakness expected

 

© 2000-2024. 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