Silver is experiencing difficulty staying above the 200-day EMA and is trading with minimal movement near 22.765 for XAGUSD.
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- Silver struggles below the 200-day EMA, trading nearly flat.
The pair currently trades last at 22.765.
The previous day high was 22.68 while the previous day low was 22.11. The daily 38.2% Fib levels comes at 22.47, expected to provide support. Similarly, the daily 61.8% fib level is at 22.33, expected to provide support.
Silver price advances sharply during the week, though as the Asian session begins, the XAG/USD is facing solid resistance at the 200-day Exponential Moving Average (EMA) at $22.94. That said, the Silver (XAG/USD) spot is trading at $22.77, almost flat, at the time of writing.
XAG/USD shifted bearish once it fell below the 200-day EMA and beneath the May 26 daily low of $22.68. Even though XAG/USD hovers above the latter, a daily close above it’s required to keep buyers hopeful of reclaiming higher prices, like the 200-day EMA, ahead of the $23.00 barrier.
Nevertheless, the XAG/USD’s path of least resistance is downward biased, as shown by the Relative Strength Index (RSI) indicator, at bearish territory. At the same time, the three-day Rate of Change (RoC) portrays some buying pressure lifted the XAG/USD.
That said, the XAG/USD first support would be $22.68. A breach of the latter will expose the XAG/USD last week’s low of $22.11 before dropping beneath the $22.00 mark. Conversely, if XAG/USD achieves a daily close above the 200-day EMA, the XAG/USD could challenge $23.00 as the first resistance. Break above will expose the 20-day EMA at $23.31, followed by the 100-day EMA at $23.45.
Technical Levels: Supports and Resistances
XAGUSD currently trading at 22.78 at the time of writing. Pair opened at 22.44 and is trading with a change of 1.52 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 22.78 |
| 1 | Today Daily Change | 0.34 |
| 2 | Today Daily Change % | 1.52 |
| 3 | Today daily open | 22.44 |
The pair is trading below its 20 Daily moving average @ 23.54, below its 50 Daily moving average @ 24.19 , below its 100 Daily moving average @ 23.32 and above its 200 Daily moving average @ 22.49
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 23.54 |
| 1 | Daily SMA50 | 24.19 |
| 2 | Daily SMA100 | 23.32 |
| 3 | Daily SMA200 | 22.49 |
The previous day high was 22.68 while the previous day low was 22.11. The daily 38.2% Fib levels comes at 22.47, expected to provide support. Similarly, the daily 61.8% fib level is at 22.33, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 22.14, 21.84, 21.57
- Pivot resistance is noted at 22.71, 22.98, 23.28
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 22.68 |
| Previous Daily Low | 22.11 |
| Previous Weekly High | 24.20 |
| Previous Weekly Low | 22.11 |
| Previous Monthly High | 26.14 |
| Previous Monthly Low | 22.68 |
| Daily Fibonacci 38.2% | 22.47 |
| Daily Fibonacci 61.8% | 22.33 |
| Daily Pivot Point S1 | 22.14 |
| Daily Pivot Point S2 | 21.84 |
| Daily Pivot Point S3 | 21.57 |
| Daily Pivot Point R1 | 22.71 |
| Daily Pivot Point R2 | 22.98 |
| Daily Pivot Point R3 | 23.28 |
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