#XAGUSD @ 20.953 Silver price falls below the psychological $21.00 after failing to hurdle the 200-day EMA. (Pivot Orderbook analysis)

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• Silver price falls below the psychological $21.00 after failing to hurdle the 200-day EMA.
• The break of an upslope trendline exacerbated a fall from daily highs around $21.60s.
• XAG/USD Price Analysis: Break below $20.89 to pave the way to $20.00.

The pair currently trades last at 20.953.

The previous day high was 21.56 while the previous day low was 21.16. The daily 38.2% Fib levels comes at 21.31, expected to provide resistance. Similarly, the daily 61.8% fib level is at 21.4, expected to provide resistance.

Silver price tumbles below $21.00 late in the North American session amidst risk aversion and the recovery of the US Dollar (USD), as shown by the US Dollar Index (DXY) gaining 0.40% in the day. At the time of writing, the XAG/USD is trading at $20.95, below its opening price by almost 2%.

After XAG/USD failed to crack the 200-day Exponential Moving Average (EMA) at $21.34, the white metal is extending its losses below the $21.00 figure. It should be noted that Silver broke below a 20-day-old upslope trendline, exacerbating Silver’s drop. The Relative Strength Index (RSI), aiming towards the 50-midline, is accelerating, suggesting that sellers are gathering momentum.

Short term, the XAG/USD 4-hour chart portrays sellers’ strength. Notably, XAG/USD hit a daily high of around $21.61 before tumbling and reclaiming the 50 and 100-EMAs. Therefore, the XAG/USD path of least resistance is tilted to the downside. That said, the XAG/USD first support would be November 23, swing low at $20.89. Once cleared, the next support would be the November 21 pivot low at $20.56, followed by the 200-Exponential Moving Average (EMA) at $20.15.

As an alternate scenario, XAG/USD first resistance would be the confluence of the S1 pivot and the 40-EMA at $21.16, followed by the daily pivot point at $21.36, ahead of the R1 pivot at $21.55.

Technical Levels: Supports and Resistances

XAGUSD currently trading at 20.94 at the time of writing. Pair opened at 21.46 and is trading with a change of -2.42 % .

The pair is trading above its 20 Daily moving average @ 20.91, above its 50 Daily moving average @ 19.96 , above its 100 Daily moving average @ 19.6 and below its 200 Daily moving average @ 21.37

The previous day high was 21.56 while the previous day low was 21.16. The daily 38.2% Fib levels comes at 21.31, expected to provide resistance. Similarly, the daily 61.8% fib level is at 21.4, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 21.23, 21.0, 20.83
• Pivot resistance is noted at 21.62, 21.79, 22.02

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