Silver (XAG/USD) pops higher after market-moving data on Wednesday and attempts to break back above a key resistance level at $30.00, the top of a four-year consolidation range.
Silver shoots up after the release of US inflation data. It threatens to break above an important resistance level at $30.00. At the same time the precious metal continues to make lower lows suggesting a bearish bias in the short-term. Silver pops higher after market-moving data on Wednesday and attempts to break back above a key resistance level at $30.00, the top of a four-year consolidation range.
04, just below the 200 Simple Moving Average . A break back below $29.04 would confirm another lower low, continuing the sequence of Silver’s step declines since it rolled over from its peak at $32.51 established in May. There is a possibility it could fall to an initial target at $28.21, the 0.618 Fibonacci ratio of the height of the range that unfolded in the second half of May, extrapolated lower.
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: Breaks out above top of four-year range and rallies above $32.00Silver (XAG/USD) price has broken decisively above key resistance at $30.00 and risen parabolically, hitting its first upside target at $32.28.
Read more »
Silver Price Analysis: XAG/USD surges above $31.50 amid thin tradingSilver prices rallied sharply on Monday, posting gains of more than 4%.
Read more »
Silver Price Analysis: XAG/USD gains marginally, clings above $28.00Silver's price advanced 0.28% on Monday, courtesy of falling yields in US Treasuries and a softer US Dollar.
Read more »
Silver Price Analysis: XAG/USD drop as double-top chart pattern remains intactSilver prices retreated on Tuesday and fell 1.65% as the Greenback remained in the driver’s seat and posted gains of 0.15%, ahead of crucial data to be revealed on Wednesday.
Read more »
Silver Price Analysis: XAG/USD bounces back but stays bearish below $30.00Silver price trims some of its losses from last Friday, yet it remains under pressure as US Treasury bond yields along the short and long end of the curve rise.
Read more »
Silver Price Analysis: Making lower lows in the short-termSilver (XAG/USD) is in a step decline on the four-hour chart after piercing below the bottom of a mini-range it formed after peaking in mid-May.
Read more »