Silver (XAG/USD) price has continued to sell-off after being rejected by the top of a long-term range at just below $30.00 (green line) on April 12.
Silver price is declining after touching the top of a four-year consolidation range at roughly $30.00. XAG/USD has fallen to $27.00 and could decline further with support not materializing till $26.00. Silver price has continued to sell-off after being rejected by the top of a long-term range at just below $30.00 on April 12. The precious metal is now in the midst of a steep decline and will probably continue lower till support materializes from the top of a smaller year-long range at $26.00.
Silver Daily Chart The Moving Average Convergence/Divergence momentum indicator has crossed below its signal line, indicating Silver has probably reversed its medium-term trend and is set to move even lower. The signal is improved by the fact that MACD is a more reliable indicator in markets that are not strongly trending such as that of Silver. Silver price will probably fall to support from the former range highs at $26.00. At that level it could base and recover. A decisive break below $26.
XAGUSD Technical Analysis Silver
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAG/USD is under increasing bearish pressure below $27.57 supportSilver (XAG/USD) is going through a deep correction on Monday, with precious metals suffering as concerns about an escalation of the Middle East conflict ebb.
Read more »
Silver Price Analysis: XAG/USD clings to $28.00 amid high US yieldsSilver clings to modest gains of 0.29% and stays above $28.00 for the sixth consecutive trading day amid higher US Treasury bond yields and a strong US Dollar.
Read more »
Silver Price Analysis: XAG/USD wavers, clings to gains above $28.00Silver’s prices remain in positive territory but continued to register higher tails in the daily chart, signaling buyers' failure to commit to higher prices above the May 18, 2021, high of $28.74.
Read more »
Silver Price Analysis: XAG/USD pulls back as dark cloud cover loomSilver prices retreat from daily highs reached $29.01, dropping 2.63%, affected by high US Treasury yields, and stirring resistance around the $29.00 threshold.
Read more »
Silver Price Analysis: XAG/USD remains bullish, eyeing $29.00Silver's price rose past $28.00, extending its gains close to the $29.00 threshold, which was briefly pierced last Friday, but buyers failed to hold the price above that level.
Read more »
Silver Price Analysis: XAG/USD plummets after hitting three-year high, stays bullishSilver's price tumbled on Friday’s session after refreshing three-year highs reached in February 2021.
Read more »