XAG/USD Price Analysis: Technical outlook
The grey metal daily chart formed a ‘bearish harami’ candlestick chart pattern that suggests prices might edge to the downside, though sellers need to extend Silver’s losses beneath the March 15 swing low of $24.79. It should be said that the Relative Strength Index (RSI) indicator was barren from entering overbought conditions, keeping its bullish bias intact. However, the RSI edges lower, and if XAG/USD falls below $25.00, that might open the door to challenge December’s 22 high turned support at $24.60. Further downside is seen at $24.00.
On the other hand, if buyers hold XAG/USD spot price above $25.00, that could open the door to test the current year-to-date (YTD) high of $25.44 ahead of $26.00
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.