SILVER PRICE ANALYSIS: XAG/USD GAINS MARGINALLY, HOVERS AROUND $23.00 ON WEAK USD, FALLING US BOND YIELDS

avatar
· Views 69



  • Silver (XAG) trades slightly higher amid declining US Treasury bond yields and broad US Dollar (USD) weakness.
  • For a bearish continuation, a break below the 200-day EMA at $22.93 is needed, with a potential downside to the June 25 daily low of $22.68 and further to $22.11.
  • Conversely, staying above $23.00 may challenge resistances at $23.35/41 (50/100-day EMAs confluence) and then $24.00. A decisive break of these resistances may lead the prices toward $24.20.

Silver price climbs below the $23.00 figure, surpassing the 20-day Exponential Moving Average (EMA) at $23.07 on Monday, courtesy of US Bond yields falling and broad US Dollar (USD) weakness. The XAG/USD is exchanging hands at $23.12, gaining 0.32% as Wall Street’s session ends.

XAG/USD Price Analysis: Technical outlook

After sliding below the 50 and 100-day EMAs, the XAG/USD remains neutral to downward-biased, with price action hoovering around each side of the 20-day EMA and the $23.00 figure. For a bearish continuation, the XAG/USD must drop below the 200-day EMA at $22.93, opening the door for further downside, exposing as next support the June 25 daily low of $22.68.

In a decisive break, XAG/USD would slump and challenge the March 16 daily low of $22.11 before surpassing the $22.00 figure. Once cleared, the next support would be last year’s November 28 daily low of $20.87 before reaching YTD lows of $19.92.

Conversely, if XAG/USD stays afloat above $23.00, resistance levels emerge at the confluence of the 50/100-day EMAs at around $23.35/41. Once broken, the following supply area would be the $24.00 figure, followed by a June 16 daily high of $24.20.


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。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

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。

  • tradingContest