One more dip to 39.55 is likely followed by a grind higher to 40.46. After which it can resume its downtrend.
Supports / Resistances
Res 2 41.1400
Res 1 40.4600
Pivot 39.8900
Sup 1 39.2100
Sup 2 38.6500
Printable View
One more dip to 39.55 is likely followed by a grind higher to 40.46. After which it can resume its downtrend.
Supports / Resistances
Res 2 41.1400
Res 1 40.4600
Pivot 39.8900
Sup 1 39.2100
Sup 2 38.6500
silver was bit bored today as it comes where it was, i did for long term thatswhy didnt close and now it comes where it was, so just getting 5 pips profit
Another bearish signal is an extended bearish divergence, although this is already being resolved and may not be relevant as the RSI heads to the bullish momentum support at 40
the RSI reading also broke above 70 to establish short-term bullish momentum, and if the reading remains above 40, it can translate into a more medium term bullish outlook…
silver was bit bored on friday as it comes where it was, i did for long term thatswhy didnt close and now it comes where it was, so just getting 5 pips profit
One more dip to 39.55 is likely followed by a grind higher to 40.46. After which it can resume its downtrend.
Supports / Resistances
Res 2 41.1400
Res 1 40.4600
Pivot 39.8900
Sup 1 39.2100
Sup 2 38.6500
If a M15 close above 40.87 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 39.79 sell only and do not buy. If price closes back above it again do nothing
The range 40.87 and 39.79 is neutral area, any trade done in between is personal decision and not part of this analysis
XAGUSD was undecided this week and ended in a bear pin bar, the bias is neutral in near term. . . I think we need a clear break below 38.40 to activate medium bear bias or a clear break above 41.00 to activate bull medium and long term bias towards previous historical high at 49.80
Better macroeconomic performance of the eurozone and the U.S. sent XAGUSD under 41 USD. The situation calmed down and the market at 41.42 to create a double top. In the case of a continuous "release" Risk aversion in the market would be possible to drop 40 USD
If a M15 close above 40.87 buy only and do not sell. If price closes back below it again do nothing.
the silver now 41