Silver eyes yearly bottom on breaking key support confluence
Silver finally follows gold while breaking short-term support confluence near $26.30, which in turn drags it towards late January lows. Although oversold RSI on four-hour (4H) chart probes the metal sellers, a sustained break of the key support, coupled with the bearish MACD suggests further downside of the commodity prices. As a result, the $25.50 and the $25.00 may offer intermediate halts during the quote’s south-run targeting the yearly low of $24.13.
If at all the bullion regains above the previous support near $26.30, it needs to clear a downward sloping trend line from Thursday to reject the bearish hopes. Also acting as upside filters are the $27.00 round-figure and February top surrounding $28.30. Overall, silver is up for grabs should the sellers welcome the latest support break.
If at all the bullion regains above the previous support near $26.30, it needs to clear a downward sloping trend line from Thursday to reject the bearish hopes. Also acting as upside filters are the $27.00 round-figure and February top surrounding $28.30. Overall, silver is up for grabs should the sellers welcome the latest support break.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.