Silver (XAG/USD) has bounced off key support at the June 13 low, and is currently trading up towards the 50 and 100-period Simple Moving Averages (SMA).
Silver has bounced off key support and risen up towards the cluster of the 50 and 100-period SMA. The overall short-term trend remains bearish, however, with a risk the precious metal could roll over at any time. Silver is in a falling channel, but the upper boundary has been briefly breached increasing the risk it could break again. Silver has bounced off key support at the June 13 low, and is currently trading up towards the 50 and 100-period Simple Moving Averages .
57, the June 26 low that would reconfirm the downside bias, with the next target lying at the lower channel line, at around $27.50. If Silver continues recovering and breaks on a closing basis above the 50 and 100 SMAs at $29.49 and $29.56 respectively, however, it would probably indicate a continuation higher to the upper channel line at around $29.90. This is also a major resistance level at the top of a four-year consolidation zone.
XAGUSD Technical Analysis Silver
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: Silver finds support at June 13 low and consolidatesSilver (XAG/USD) has fallen to a key support level at $28.66, the June 13 low, and is currently trading along that support.
Read more »
Silver price today: Silver broadly unchanged, according to FXStreet dataSilver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data.
Read more »
Silver Price Analysis: XAG/USD tumbles below $32.00 as ‘double top’ loomsSilver prices posted modest losses of 0.32% on Wednesday as US Treasury bond yields edged up, downward pressure on precious metals.
Read more »
Silver Price Analysis: XAG/USD tanks towards $31.00 as ‘evening star’ emergesSilver prices dropped from daily highs that had reached around $32.09 earlier, even though US Treasury bond yields tumbled.
Read more »
Silver Price Analysis: Oscillating within an uptrendSilver (XAG/USD) is consolidating within a short-term uptrend.
Read more »
Silver Price Analysis: XAG/USD collapses below $30.00 as double top emergesSilver prices sank sharply on Tuesday amid falling US Treasury bond yields and a firm US dollar.
Read more »