#XAGUSD @ 24.823 Silver price continues to trade below the $25.00 figure as support takes hold around $24.80. (Pivot Orderbook analysis)
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
- Silver price continues to trade below the $25.00 figure as support takes hold around $24.80.
- XAG/USD has been trading sideways, bracing around the 20-day EMA at $24.70 for the last three days.
The pair currently trades last at 24.823.
The previous day high was 25.23 while the previous day low was 24.73. The daily 38.2% Fib levels comes at 24.92, expected to provide resistance. Similarly, the daily 61.8% fib level is at 25.04, expected to provide resistance.
Silver price trends downwards for the third straight day, though it stays above the 20-day Exponential Moving Average (EMA) after dipping to a daily low of $24.51. At the time of writing, the XAG/USD is trading at $24.81, below its opening price by 0.25%.
The XAG/USD is trading sideways, as it has been since April 18. Also, the Relative Strength Index (RSI), after bolstering the XAG/USD towards its YTD high of $26.08, has retreated, aiming towards the neutral area, as sellers continue to enter the market, as XAG/USD so far had failed to crack the 20-day EMA at $24.70. if XAG/USD sellers break below the latter, the next support would be a downslope resistance trendline, turned support, drawn from January highs, that passes around $24.20-30, ahead of posing a challenge to the $24.00 figure.
On the flip side, the XAG/USD first resistance would be the April 25 daily high at $25.23, followed by the April 20 cycle high at $25.49. The next resistance remains the YTD high at $26.08, followed by the last year’s high at $26.94.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 24.84 at the time of writing. Pair opened at 24.91 and is trading with a change of -0.28 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 24.84 |
| 1 | Today Daily Change | -0.07 |
| 2 | Today Daily Change % | -0.28 |
| 3 | Today daily open | 24.91 |
The pair is trading below its 20 Daily moving average @ 24.89, above its 50 Daily moving average @ 22.94 , above its 100 Daily moving average @ 23.18 and above its 200 Daily moving average @ 21.51
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 24.89 |
| 1 | Daily SMA50 | 22.94 |
| 2 | Daily SMA100 | 23.18 |
| 3 | Daily SMA200 | 21.51 |
The previous day high was 25.23 while the previous day low was 24.73. The daily 38.2% Fib levels comes at 24.92, expected to provide resistance. Similarly, the daily 61.8% fib level is at 25.04, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 24.68, 24.45, 24.18
- Pivot resistance is noted at 25.18, 25.46, 25.68
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 25.23 |
| Previous Daily Low | 24.73 |
| Previous Weekly High | 25.60 |
| Previous Weekly Low | 24.64 |
| Previous Monthly High | 24.16 |
| Previous Monthly Low | 19.90 |
| Daily Fibonacci 38.2% | 24.92 |
| Daily Fibonacci 61.8% | 25.04 |
| Daily Pivot Point S1 | 24.68 |
| Daily Pivot Point S2 | 24.45 |
| Daily Pivot Point S3 | 24.18 |
| Daily Pivot Point R1 | 25.18 |
| Daily Pivot Point R2 | 25.46 |
| Daily Pivot Point R3 | 25.68 |
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
