Silver price (XAG/USD) drops to $23.90 as it snaps a three-week uptrend during early Monday. In doing so, the bright metal reverses from a downward-sloping resistance line from April 2022. Adding strength to the XAG/USD pullback is the overbought RSI (14) line.
However, the bullish MACD signals and a two-week-old ascending support line, close to $23.50 by the press time, restrict the short-term downside of the Silver price.
Following that, the 61.8% Fibonacci retracement level of the metal’s April-September 2022 downturn, near $22.90, could lure the XAG/USD bears.
It’s worth noting, though, that a convergence of the 21-DMA and 50-DMA, around $22.20 by the press time, appears a tough nut to crack for the Silver bears.
In a case where the Silver price remains weak past $22.20, the 22.00 and 50% Fibonacci retracement level around $21.90 act as the last defenses of the XAG/USD buyers.
Meanwhile, an upside clearance of the one-year-long resistance line, close to $24.05 at the latest, isn’t an open invitation to the Silver buyers as February 2023 tops surrounding $24.65 challenges the XAG/USD bulls before directing them to the April 2022 high of near $26.25.
Should the Silver price remains firmer past $26.25, the previous yearly high surrounding $27.300 will be in focus.
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。