#XAGUSD @ 22.825 Silver prices drop as trades at around $22.85, down 0.33%.
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- Silver prices drop as XAG/USD trades at around $22.85, down 0.33%.
The pair currently trades last at 22.825.
The previous day high was 23.21 while the previous day low was 22.66. The daily 38.2% Fib levels comes at 22.87, expected to provide resistance. Similarly, the daily 61.8% fib level is at 23.0, expected to provide resistance.
Silver prices (XAG/USD) dropped in the mid-North American session on Wednesday as market sentiment turned negative, which usually underpins the grey metal. Nevertheless, an uptick in US Treasury bond yields and a strong US Dollar (USD), capped the XAG/USD advance towards the $24.00 figure. At the time of writing, Silver exchanges hands at $22.85, down 0.33%.
After sliding below the 200 and 50-day moving averages (DMAs), the XAG/USD remains downward biased, though shy of testing the 20-day Exponential Moving Average (DMA) at $22.20. A breach of the latter would expose $22.00, followed by the bottom of the Bollinger-Band at $20.77, but firstly, sellers must reclaim $21.00.
On the flip side, if XAG/USD reclaims the 50-DMA at $22.94, Silver could challenge the $23.00 figure, followed by the 200-DMA at $23.29, ahead of the top of the Bollinger-Bands at $23.69.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 22.86 at the time of writing. Pair opened at 22.92 and is trading with a change of -0.26 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 22.86 |
| 1 | Today Daily Change | -0.06 |
| 2 | Today Daily Change % | -0.26 |
| 3 | Today daily open | 22.92 |
The pair is trading above its 20 Daily moving average @ 22.2, below its 50 Daily moving average @ 22.95 , below its 100 Daily moving average @ 23.28 and below its 200 Daily moving average @ 23.31
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 22.20 |
| 1 | Daily SMA50 | 22.95 |
| 2 | Daily SMA100 | 23.28 |
| 3 | Daily SMA200 | 23.31 |
The previous day high was 23.21 while the previous day low was 22.66. The daily 38.2% Fib levels comes at 22.87, expected to provide resistance. Similarly, the daily 61.8% fib level is at 23.0, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 22.65, 22.38, 22.1
- Pivot resistance is noted at 23.2, 23.48, 23.75
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 23.21 |
| Previous Daily Low | 22.66 |
| Previous Weekly High | 23.70 |
| Previous Weekly Low | 22.37 |
| Previous Monthly High | 24.82 |
| Previous Monthly Low | 22.12 |
| Daily Fibonacci 38.2% | 22.87 |
| Daily Fibonacci 61.8% | 23.00 |
| Daily Pivot Point S1 | 22.65 |
| Daily Pivot Point S2 | 22.38 |
| Daily Pivot Point S3 | 22.10 |
| Daily Pivot Point R1 | 23.20 |
| Daily Pivot Point R2 | 23.48 |
| Daily Pivot Point R3 | 23.75 |
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