- Analytics
- News and Tools
- Market News
- Silver Price Analysis: XAG/USD pokes $25.00 to renew three-month top as Russia invades Ukraine
Silver Price Analysis: XAG/USD pokes $25.00 to renew three-month top as Russia invades Ukraine
Silver rises for the seventh consecutive day, firmer around the highest levels since January 18.
A successful break of 200-DMA, descending trend line from July 2021 adds strength to the bullish bias.
Silver (XAG/USD) refreshes three-month high, up 1.40% intraday around $95.00 as Russian military attacks Ukraine during early Thursday morning in Europe.
The bright metal tracks gold prices to print a seven-day uptrend amid bullish MACD signals.
Also favoring XAG/USD buyers is the sustained break of the 200-DMA and a downward sloping resistance from July 2021, now support.
However, the 50% Fibonacci retracement (Fibo.) of May-September 2021 declines, near $25.10, challenges intraday silver buyers.
Also acting as an upside hurdle is November 2021 high near $25.40, followed by the 61.8% Fibo. level surrounding $26.00.
Alternatively, pullback moves may have to conquer the previous resistance confluence including the multi-day-old descending trend line and the 200-DMA, around $24.30, to reject the latest bullish signals.
Even so, a two-week-long support line of $24.00 will act as an extra filter to the south.
Silver: Daily chart
Trend: Further upside expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
