Tag Archives: Silver

Silver Price Analysis: XAG/USD sellers approach $20.20 support confluence

Silver price holds lower ground near the short-term key support comprising 50-day EMA, three-week-old ascending support line. Receding bullish MACD signals, sustained pullback from 61.8% Fibonacci retracement tease sellers. Bulls need validation from $21.00 to retake control. Silver price (XAG/USD) remains pressured at around $20.30, keeping the previous day’s bearish bias during Friday’s Asian session.… Read More »

Silver Price Forecast: XAGUSD eyes a break below the 50-DMA as US bond yields rally

Silver price is dropping close to 1.50% on Thursday. July’s US CPI and PPI inflation reports show signs of topping; however, Fed officials remained hawkish. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. Silver price drops moderately as market sentiment remains upbeat following the release of the US inflation data… Read More »

Silver Price Analysis: Rising wedge teases XAG/USD bears around mid-$20.00s

Silver keeps pullback from six-week high inside a bearish chart pattern. Higher low on RSI backs firmer prices to suggest short-term grind towards the north. 200-SMA adds to the downside filters before directing sellers towards July’s low. Silver price (XAG/USD) remains pressured at around $20.50, keeping the previous day’s pullback from the 1.5-month high marked… Read More »

Silver Price Forecast: XAGUSD hangs around $20.60s, unable to rally despite US dollar weakness

Silver price edged up 0.57% on Wednesday after US inflation eased from 4-decade highs. US inflation annually decelerated from above 9% as gasoline prices dropped. Fed’s Evans and Kashkari expect further rate hikes. Fed’s Kashkari foresees the Federal funds rate (FFR) at 4% by the end of 2022. Silver price falters to rally on Wednesday… Read More »

Silver Price Analysis: XAG/USD flirts with 50-DMA/50% Fibo. resistance-turned-support

Silver witnesses some selling for the second straight day and moves away from a multi-week high. The technical set-up still seems tilted in favour of bulls and supports prospects for additional gains. A sustained break below the $19.20 region is needed to negate the near-term constructive outlook. Silver edges lower for the second successive day… Read More »

Silver Price Forecast: XAGUSD falls from weekly highs, above the 50-DMA ahead of US inflation data

Silver price drops as US bond yields escalate while the US dollar weakens. Sentiment remains fragile, shifting sour since the European equities close. Silver’s price action to remain choppy ahead of the US CPI report. Silver price retreats from weekly highs reached on Monday at $20.74 but is exchanging hands near the August 9 lows… Read More »

Silver Price Analysis: XAG/USD seems poised to appreciate further and aim to reclaim $21.00

Silver oscillates in a narrow band and consolidates its recent gains to a multi-week high. The overnight breakout through the 50-DMA/50$ Fibo. confluence favours bullish traders. Any meaningful dips could now be seen as a buying opportunity and remain short-lived. Silver consolidates the previous day’s strong gains to a six-week high and remains confined in… Read More »

Silver Price Analysis: XAG/USD jumps back above $20.00, 50-DMA/50% Fibo. holds the key

Silver regains traction on Monday and reverses a major part of Friday’s fall to over a one-week low. Bulls still need to wait for a move beyond the $20.30-35 confluence before placing aggressive bets. A convincing break below the $19.20 support zone would negate any near-term positive outlook. Silver attracts some dip-buying near the $19.80… Read More »

Silver Price Analysis: XAG/USD extends pullback form 50-DMA towards $19.50

Silver price remains pressured towards monthly horizontal support. RSI retreat, receding bullish bias of MACD also favor sellers. Bulls await successful trading beyond May’s low to retake control. Silver price (XAG/USD) stays softer around $19.80, extending the previous week’s pullback from the 50-DMA amid Monday’s initial Asian session. In addition to the failures to cross… Read More »