Silver struggles to break the 200-day EMA at $21.48 after hitting a daily high of $21.61. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE 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_level4)]

• Silver struggles to break the 200-day EMA at $21.48 after hitting a daily high of $21.61.
• Silver Price Analysis: A doji in the daily chart suggests Silver is consolidating.

The pair currently trades last at 21.19.

The previous day high was 21.63 while the previous day low was 20.5. The daily 38.2% Fib levels comes at 21.2, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.93, expected to provide support.

Silver price remains unable to clear the 200-day Exponential Moving Average (EMA) at $21.48 decisively, retreats after hitting a daily high of $21.61, trading below its opening price by 0.15%. At the time of writing, the XAGUSD is trading at $21.19 a troy ounce.

The Silver rally stalled at around the 200-day EMA at $21.48, in the last couple of days, with Wednesday’s price action set to form a doji, meaning that buyers could be refraining from testing higher prices, with the US Consumer Price Index (CPI) report for October, right around the corner. It should be noted that if XAGUSD tumbles below $21.00, a fall toward this week’s low at $20.38 is on the cards,

Short term, the XAGUSD appears to be forming a top at around $21.40-60. The Relative Strength Index (RSI), at bearish territory with a downslope, suggests some selling pressure piling, but a break below the confluence of Wednesday’s low and the daily pivot point at $21.16 would exacerbate a test of the psychological $21.00.

XAGUSD key resistance levels lie at $21.60, followed by the R1 daily pivot at $21.82 and the $22.00 mark.

Technical Levels: Supports and Resistances

EURUSD currently trading at 21.19 at the time of writing. Pair opened at 21.38 and is trading with a change of -0.61 % .

The pair is trading above its 20 Daily moving average @ 19.38, above its 50 Daily moving average @ 19.27 , above its 100 Daily moving average @ 19.46 and below its 200 Daily moving average @ 21.49

The previous day high was 21.63 while the previous day low was 20.5. The daily 38.2% Fib levels comes at 21.2, expected to provide resistance. Similarly, the daily 61.8% fib level is at 20.93, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 20.7, 20.03, 19.57
• Pivot resistance is noted at 21.84, 22.3, 22.97

[/s2If]
Join Our Telegram Group