#XAGUSD @ 23.116 Silver price jumps from $22.70 to $23.07, testing crucial resistance at 200-DMA of $23.26.
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- Silver price jumps from $22.70 to $23.07, testing crucial resistance at 200-DMA of $23.26.
The pair currently trades last at 23.116.
The previous day high was 23.14 while the previous day low was 22.44. The daily 38.2% Fib levels comes at 22.71, expected to provide support. Similarly, the daily 61.8% fib level is at 22.88, expected to provide support.
Silver price jumped above the $23.00 figure bolstered by a risk-off impulse, amidst geopolitical headlines suggesting the Middle East conflict is escalating, as Israel began its ground offensive at the Gaza strip. That said, the XAG/USD rose from $22.70 and is trading at $23.07, gaining more than 1.35%.
The XAG/USD remains downward biased despite rising above the 50-day moving average (DMA) at $22.94, about to test the crucial resistance level at the 200-DMA at $23.26. once that level is cruised, the next ceiling level would be $23.69, the latest cycle high. In a breach of that level, Silver bias would shift to neutral upwards, exposing the top of the Bollinger bands at $23.80,
Conversely, if Silver tumbles below $23.00, that would keep the downtrend in place. The first support would be the 50-DMA at $22.94, followed by the October 26 low of $22.44, before tumbling to challenge the 20-day Exponential Moving Average (EMA) at $22.25.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 23.08 at the time of writing. Pair opened at 22.79 and is trading with a change of 1.27 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 23.08 |
| 1 | Today Daily Change | 0.29 |
| 2 | Today Daily Change % | 1.27 |
| 3 | Today daily open | 22.79 |
The pair is trading above its 20 Daily moving average @ 22.23, above its 50 Daily moving average @ 22.96 , below its 100 Daily moving average @ 23.26 and below its 200 Daily moving average @ 23.3
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 22.23 |
| 1 | Daily SMA50 | 22.96 |
| 2 | Daily SMA100 | 23.26 |
| 3 | Daily SMA200 | 23.30 |
The previous day high was 23.14 while the previous day low was 22.44. The daily 38.2% Fib levels comes at 22.71, expected to provide support. Similarly, the daily 61.8% fib level is at 22.88, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 22.44, 22.1, 21.75
- Pivot resistance is noted at 23.14, 23.49, 23.84
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 23.14 |
| Previous Daily Low | 22.44 |
| Previous Weekly High | 23.70 |
| Previous Weekly Low | 22.37 |
| Previous Monthly High | 24.82 |
| Previous Monthly Low | 22.12 |
| Daily Fibonacci 38.2% | 22.71 |
| Daily Fibonacci 61.8% | 22.88 |
| Daily Pivot Point S1 | 22.44 |
| Daily Pivot Point S2 | 22.10 |
| Daily Pivot Point S3 | 21.75 |
| Daily Pivot Point R1 | 23.14 |
| Daily Pivot Point R2 | 23.49 |
| Daily Pivot Point R3 | 23.84 |
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