At the rate of XAGUSD being 23.670, the value of silver has dropped below the $23.88/80 mark where the 50 and 20-day EMAs conjoin.
…
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 falls past the $23.88/80 confluence of the 50 and 20-day EMAs.
The pair currently trades last at 23.670.
The previous day high was 24.3 while the previous day low was 23.88. The daily 38.2% Fib levels comes at 24.04, expected to provide resistance. Similarly, the daily 61.8% fib level is at 24.14, expected to provide resistance.
Silver price extended its losses past the confluence of the 20 and 50-day Exponential Moving Averages(EMAs) as higher US Treasury bond yields sparked a sell-off of the white metal. XAG/USD’s sellers targeted the 100-day EMA at $23.52 but could not achieve their goal. The XAG/USD trades at $23.68.
Silver tumbled below the $23.88/80 confluence of the 50 and 20-day EMAs, extending its losses past an upslope support trendline drawn since the beginning of June. Even though XAG/USD remains in consolidation, a drop below the 100-day EMA at $23.52 will send the white metal tumbling toward the June 8 low of $23.41 before challenging the $23.00 mark.
In that outcome, the XAG/USD’s next support would be the important 200-day EMA at $22.92, which, once cleared, would pave the way for additional losses.
For a bullish continuation, XAG/USD buyers must reclaim $23.90, so they can threaten to break $24.00. A breach of the latter will expose Silver to further buying pressure. XAG/USD can rally towards the next resistance at April 25 low-turned resistance at $24.49 before challenging $25.00.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 23.69 at the time of writing. Pair opened at 24.06 and is trading with a change of -1.54 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 23.69 |
| 1 | Today Daily Change | -0.37 |
| 2 | Today Daily Change % | -1.54 |
| 3 | Today daily open | 24.06 |
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 @ 22.29
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 23.58 |
| 1 | Daily SMA50 | 24.49 |
| 2 | Daily SMA100 | 23.35 |
| 3 | Daily SMA200 | 22.29 |
The previous day high was 24.3 while the previous day low was 23.88. The daily 38.2% Fib levels comes at 24.04, expected to provide resistance. Similarly, the daily 61.8% fib level is at 24.14, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 23.86, 23.66, 23.43
- Pivot resistance is noted at 24.28, 24.5, 24.7
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 24.30 |
| Previous Daily Low | 23.88 |
| Previous Weekly High | 24.53 |
| Previous Weekly Low | 23.25 |
| Previous Monthly High | 26.14 |
| Previous Monthly Low | 22.68 |
| Daily Fibonacci 38.2% | 24.04 |
| Daily Fibonacci 61.8% | 24.14 |
| Daily Pivot Point S1 | 23.86 |
| Daily Pivot Point S2 | 23.66 |
| Daily Pivot Point S3 | 23.43 |
| Daily Pivot Point R1 | 24.28 |
| Daily Pivot Point R2 | 24.50 |
| Daily Pivot Point R3 | 24.70 |
[/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
