Silver price slides beneath the $25.00 figure after printing a daily high earlier at around $25.36. Though flows toward the US Dollar (USD) exacerbated a fall toward the 20-day Exponential Moving Average (EMA) at around current prices. At the time of writing, the XAG/USD is trading at $24.86.
XAG/USD Price Action
The XAG/USD remains upward biased due to solid support at the 20-day EMA at $24.65. After piercing the latter, the XAG/USD jumped towards the $24.70s area, though oscillators tell a different story. The Relative Strength Index (RSI) aims downward, approaching the 50-mid line, which, once crossed, would indicate that sellers regained control. Also, the Rate of Change (RoC) shows that selling pressure has increased in the last three days. Hence, the XAG/USD is set for a pullback before resuming its uptrend.
The XAG/USD’s next support would be the April 25 daily low at $24.49. A breach of the latter will expose the psychological $24.00 level. Once cleared, the 50-day EMA at $23.69 would be tested, with the 100-day EMA up at $22.97.
Conversely, if XAG/USD cracks and achieves a daily close above $25.00, traders could expect further consolidation between $25.00-$25.50, as it has happened during the last four trading days.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發