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When Will Breakout Take Place? – Cryptovibes.com – Daily Cryptocurrency and FX News

When Will Breakout Take Place? – Cryptovibes.com – Daily Cryptocurrency and FX News


 SILVER Weekly Price Analysis – June 13

Should the resistance level of $28 holds, the price may decrease to the support levels at $27, $26, and $25. The relative strength index period 14 is at 55 levels with the signal line pointing downside which indicate the pressure of the seller may increase.

XAGUSD Market

Key Levels:

Resistance levels: $28, $29, $30

Support levels: $27, $26, $25

XAGUSD Long-term trend: Ranging

XAGUSD is ranging on the long-term outlook. The resistance level of $28 holds the price, the same way, the support level of $27 remains strong to the bears; the currency pair continue its ranging movement within $28 and $27 price level. Last two weeks, the bullish pressure made the Silver price reaches the high of $28 price level. The bulls are yet to have enough momentum to breakout above the $28 level. The bears’ pressure is low to penetrate the support level at $27.

Silver Daily chart, June 13

The Silver price maintain its trading over and around the 9 periods EMA and 21 periods EMA as an indication that ranging movement. In case bulls increase their momentum, the resistance level at $28 may be broken upside and the price may increase to $29 and $30 price levels. Should the resistance level of $28 holds, the price may decrease to the support levels at $27, $26, and $25. The relative strength index period 14 is at 55 levels with the signal line pointing downside which indicate the pressure of the seller may increase.

 XAGUSD Medium-term Trend: Ranging

XAGUSD is on the ranging movement on 4-hour chart. The bulls are yet to gather enough momentum to break up the resistance level of $28. Likewise, the bears haven’t got enough momentum to penetrate the support level. Ranging movement continues in the Silver market on 4-hour chart. Last week, te price increased to test the $28 price level. The sellers interrupted the bulls’ momentum and prevents further increase. The bulls and the bears loses momentum, this results to consolidation movement in the Silver market.

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Silver 4 hour chart, June 13

Silver price is hovering over the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is at 50 levels with the signal line pointing down to indicate sell signal.



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