Silver price (XAG/USD) takes offers to renew intraday low around $23.00 as bear prod short-term key support heading into Tuesday’s European session. In doing so, the bright metal pokes lower line of an upward-sloping trend channel from March 16.
It’s worth noting, however, that steady RSI (14) line joins the 100-Hour Moving Average (HMA) to restrict short-term Silver price downside.
Should the quote breaks the $23.00 support, also remain comfortably below the 100-HMA support surrounding $22.95, then the XAG/USD bears could challenge the last defense of the buyers, namely the 200-HMA level of $22.55.
In a case where the Silver price remains bearish past $22.55, a fortnight-long horizontal support area near $21.50 will gain the market’s attention.
On the flip side, recovery moves need validation from $23.30 to challenge the monthly high of $23.52.
Following that, the top line of an aforementioned bullish channel, close to $23.85, could restrict the bright metal’s further advances. It should be observed that the Silver price run-up beyond $23.85 enables the bulls to challenge the YTD tops marked in February around $24.65.
To sum up, Silver price is likely to decline further even if the road toward the south appears long and bumpy.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
古いコメントはありません。ソファをつかむ最初のものになりましょう。