#XAGUSD @ 21.450 Price surges on bullish market sentiment (Pivot Orderbook analysis)
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The pair currently trades last at 21.450.
The previous day high was 20.79 while the previous day low was 19.9. The daily 38.2% Fib levels comes at 20.45, expected to provide support. Similarly, the daily 61.8% fib level is at 20.24, expected to provide support.
XAG/USD (Silver) opens the day at $20.54, with the precious metal experiencing an intraday gain of 5.24% to trade at $21.61 at the time of press. Silver hits an intraday high of $21.61, indicating a surge in bullish market sentiment.
Markets will be monitoring Tuesday’s US Consumer Price Index ex Food & Energy (MoM)(Feb) data to understand better the possible Fed actions on the speed of rate hikes decisions which will affect the US Dollar’s strength.
Technical indicators suggest a potential bullish outlook for XAG/USD silver in the short term. The RSI(14) is currently at 52.93, indicating bullish momentum. The daily 20-SMA is $21.03, indicating that the current price may trend higher. Daily pivot resistance levels for Silver are $20.91, $21.30, and $21.81, while support levels stand at $20.02, $19.52, and $19.13. However, the daily 50-SMA is $22.40, indicating a long-term bearish trend.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 21.59 at the time of writing. Pair opened at 20.53 and is trading with a change of 5.16 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 21.59 |
| 1 | Today Daily Change | 1.06 |
| 2 | Today Daily Change % | 5.16 |
| 3 | Today daily open | 20.53 |
The pair is trading above its 20 Daily moving average @ 21.13, below its 50 Daily moving average @ 22.52 , below its 100 Daily moving average @ 22.2 and above its 200 Daily moving average @ 20.94
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 21.13 |
| 1 | Daily SMA50 | 22.52 |
| 2 | Daily SMA100 | 22.20 |
| 3 | Daily SMA200 | 20.94 |
The previous day high was 20.79 while the previous day low was 19.9. The daily 38.2% Fib levels comes at 20.45, expected to provide support. Similarly, the daily 61.8% fib level is at 20.24, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 20.02, 19.52, 19.13
- Pivot resistance is noted at 20.91, 21.3, 21.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 20.79 |
| Previous Daily Low | 19.90 |
| Previous Weekly High | 21.31 |
| Previous Weekly Low | 19.90 |
| Previous Monthly High | 24.64 |
| Previous Monthly Low | 20.42 |
| Daily Fibonacci 38.2% | 20.45 |
| Daily Fibonacci 61.8% | 20.24 |
| Daily Pivot Point S1 | 20.02 |
| Daily Pivot Point S2 | 19.52 |
| Daily Pivot Point S3 | 19.13 |
| Daily Pivot Point R1 | 20.91 |
| Daily Pivot Point R2 | 21.30 |
| Daily Pivot Point R3 | 21.81 |
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