The XAGUSD is currently at 24.083 and experiences a 1.13% decrease to reach $24.00. However, it is being upheld by the 50-day and 20-day EMA.
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- XAG/USD dips 1.13% to $24.00, supported by 50-day and 20-day EMA.
The pair currently trades last at 24.083.
The previous day high was 24.53 while the previous day low was 24.2. The daily 38.2% Fib levels comes at 24.4, expected to provide resistance. Similarly, the daily 61.8% fib level is at 24.32, expected to provide resistance.
Silver price retreats as it forms a three-candlestick pattern “evening-star” at around $24.00, though cushioned by the presence of the 50-day Exponential Moving Average (EMA) at $23.89, ahead of the 20-day EMA at $23.83. At the time of writing, the XAG/USD is trading at $24.00, below its opening price by 1.13%.
From a daily chart perspective, the XAG/USD is neutral to downward tilted, as the pair remained well below the May 11 high of $25.47. Even though support levels lie at around the $23.83/89 area, the Relative Strength Index (RSI) indicator aims downward, warranting further downside. The three-day Rate of Change (RoC) also portrays buying pressure waning. That said, the XAG/USD pullback could extend further.
The XAG/USD next support would be the 100-day EMA at $23.51, followed by June 8 daily low at $23.41, ahead of testing the 200-day EMA at $22.91. Conversely, the XAG/USD first resistance would be June 9 at $24.52, followed by the $25.00 figure.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 24.03 at the time of writing. Pair opened at 24.29 and is trading with a change of -1.07 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 24.03 |
| 1 | Today Daily Change | -0.26 |
| 2 | Today Daily Change % | -1.07 |
| 3 | Today daily open | 24.29 |
The pair is trading above its 20 Daily moving average @ 23.58, below its 50 Daily moving average @ 24.49 , above its 100 Daily moving average @ 23.35 and above its 200 Daily moving average @ 22.26
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 23.58 |
| 1 | Daily SMA50 | 24.49 |
| 2 | Daily SMA100 | 23.35 |
| 3 | Daily SMA200 | 22.26 |
The previous day high was 24.53 while the previous day low was 24.2. The daily 38.2% Fib levels comes at 24.4, expected to provide resistance. Similarly, the daily 61.8% fib level is at 24.32, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 24.15, 24.01, 23.82
- Pivot resistance is noted at 24.48, 24.67, 24.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 24.53 |
| Previous Daily Low | 24.20 |
| Previous Weekly High | 24.53 |
| Previous Weekly Low | 23.25 |
| Previous Monthly High | 26.14 |
| Previous Monthly Low | 22.68 |
| Daily Fibonacci 38.2% | 24.40 |
| Daily Fibonacci 61.8% | 24.32 |
| Daily Pivot Point S1 | 24.15 |
| Daily Pivot Point S2 | 24.01 |
| Daily Pivot Point S3 | 23.82 |
| Daily Pivot Point R1 | 24.48 |
| Daily Pivot Point R2 | 24.67 |
| Daily Pivot Point R3 | 24.81 |
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