in

Silver (XAGUSD) Price Retests Support Level at $25, Bullish Reverse Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News

Silver (XAGUSD) Price Retests Support Level at $25, Bullish Reverse Envisaged – Cryptovibes.com – Daily Cryptocurrency and FX News


SILVER Weekly Price Analysis – March 14

In case the bulls break up the dynamic resistance level, $27 level will be reached, above the $27 level are $29 and $31 resistance level.  Further decrease in the Bulls’ pressure may break down the support level of $25 and the price will be exposed to $24 and$22 price level.

XAGUSD Market

Key Levels:

Resistance levels:, $27, $29, $31

Support levels: $25, $24, $22

 

XAGUSD Long-term trend: Bearish

XAGUSD (Silver) is Bearish on the long-term outlook. The Bears holds on to the Silver market; more bearish candles were produced and the price decreases to the support level at $24. On March 09, a strong daily bullish candle emerges and the price pulls back to retest the dynamic resistance level. The weekly Silver market closed above the former resistance level at $25.

Silver daily chart, March 14

The Silver price is trading below the two EMAs at the close distance and the 9 periods EMA has crossed the 21 periods EMA downside which indicates that the bears are holding the market. In case the bulls break up the dynamic resistance level, $27 level will be reached, above the $27 level are $29 and $31 resistance level.  Further decrease in the Bulls’ pressure may break down the support level of $25 and the price will be exposed to $24 and$22 price level. The relative strength index period 14 is below 50 levels with the signal lines bending down to indicate a sell signal.

 XAGUSD Medium-term Trend: Bullish

XAGUSD is bullish on the 4-hour chart. The metal reaches the support level of $25. The bearish momentum decreases and the just mentioned level rejects further price decrease. The pair is attempting the breakup of the dynamic resistance levels.

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • reddit
  • Tumblr
Silver 4 hour chart, March 14

The pair is trading above the two EMAs there is tendency for further price increase. The relative strength index period 14 is at 50 levels with the signal lines pointing up which indicate buy signal.



Source link

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Loading…

0

What do you think?

An in-depth comparison between Binance Smart Chain and Fantom Opera

Art thee stacking sats?