Silver Price Analysis: XAG/USD jostles with a key to $24.60-50 support region
11.05.2023, 06:38

Silver Price Analysis: XAG/USD jostles with a key to $24.60-50 support region

  • Silver price stays pressured as bears attack 21-DMA, two-month-old ascending support line.
  • Bearish MACD signals, RSI’s retreat from overbought territory suggests further downside.
  • Multiple levels marked since early 2023 highlight $24.60-50 as crucial downside support for XAG/USD.

Silver price (XAG/USD) clings to mild losses near $25.30 during a two-day losing streak amid early Thursday morning in Europe.

In doing so, the bright metal not only extends the previous day’s U-turn from the weekly top but also prods the key $25.30-25 support confluence encompassing the 21-DMA and an upward-sloping trend line from early March.

Given the bearish MACD signals and the RSI (14) line’s retreat from the overbought territory, the Silver price remains on the bear’s radar.

However, a daily closing below the $25.25 level becomes necessary for the XAG/USD sellers to retake control.

Even so, a horizontal area comprising multiple levels marked since early January, around $24.60-50, appears a tough nut to crack for the Silver bears before taking control.

On the contrary, the $26.00 round figure guards the immediate recovery of the Silver price ahead of the yearly peak of around $26.15.

Should the XAG/USD remains firmer past $26.15, April 2022 high surrounding $26.25 can act as the last defense of the Silver bears, a break of which could quickly propel the bullion toward the previous yearly peak of around $26.95. Also acting as an upside filter is the $27.00 round figure.

Overall, the Silver price slips off the bull’s table but the bears have a bumpy road ahead of retaking the power.

Silver price: Daily chart

Trend: Further downside 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