Silver Price struggles for clear directions after snapping two-day downtrend the previous day.
Sustained trading beyond a convergence of 200-HMA, one-week-old rising trend line keeps XAG/USD buyers hopeful.
Steady RSI (14) adds strength to expectations of further grinding towards the north.
Double tops around $24.00 appear tough nuts to crack for the Silver buyers.
Silver Price (XAG/USD) picks up bids to defend the previous day’s corrective bounce off the short-term key support, mildly bid near $23.60 during early Wednesday in Asia.
In doing so, the bright metal rebounds from a convergence of the 200-Hour Moving Average (HMA) and an upward-sloping support line from May 30, close to $23.60-65.
Apart from the clear bounce off an important support, steady RSI (14) line also keeps the XAG/USD buyers hopeful.
However, a three-week-old double top formation around $24.00 challenges the Silver buyers before giving them control.
In a case where the XAG/USD remains firmer past $24.00, the 61.8% Fibonacci retracement of the metal’s May 10-26 May, around $24.70, will act as the last defense of the Silver buyers.
Following that, the $26.00 round figure and the previous monthly high of around $26.15 will be in the spotlight.
On the contrary, a clear downside break of the $23.40 won’t hesitate to portray an immediate fall towards the $23.00 round figure, a break of which could direct the XAG/USD sellers towards the previous monthly low of near $22.70.
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。