Silver price forecast: XAG/USD extends the decrease as possible safe and sound flow

Featured in:
abcd

  • Silver (XAG/USD) falls on the third day in a row, following profits, because the premium geopolitical risk is facilitated.
  • US President Donald Trump signals a two-week window before he decides to intervene in the US in the crisis of Iran-Iiss.
  • The price rises nearly USD 36.00, supported by a 100-speed moving average on a 4-hour chart, the endocrine is 35.51 USD.

Silver (XAG/USD) remains under pressure on the third day in a row on Friday, withdrawing further after US President Donald Trump announced that he would abstain for two weeks before he decides if the US should enter the escalating dispute of Iran -izrael. This break softened part of the geopolitical bonus of risk, which recently fueled safe and sound flows to precious metals, which prompted traders to book profits and re -evaluate the position, because investors digest changing geopolitical landscape.

At the time of writing, Silver trades around USD 36.00 in American commercial hours, recovering low after softening from the lowest level of 35.51 USD. Metal has found some support near its 100-speed movable (MA) medium-time on a 4-hour table, which acts as a key pillow for prices in the current withdrawal.

sadasda

From a technical point of view, Silver began to show signs of weakness in his recent upward trend, suggesting a potential deeper withdrawal when the rush disappears. After enjoying the constant climbing in a neat channel from the beginning of June, the metal fell below the bottom of the channel, signaling that the buyers are losing the handle, at least in the compact period.

Currently, Silver floats slightly above the average walking by around 35.65 USD, which in recent weeks has reliably exerted price drops. This vigorous support will be the first line of defense for bulls.

The relative strength rate (RSI) still drifts lower after flashing of a clear discrepancy of bear, strengthening the signs that the stubborn rush disappears. At the same time, the speed of changes (ROC) slipped into a negative territory, which further confirms that the recent Silver drive has lost a pair up and that the door is now open to a wider repair phase.

Looking to the future, a constant return over a broken channel and a decisive break above USD 36.50 to revive a stubborn shoots and reveal the next resistance of about 37.00 to USD 37.30. On the other hand, if silver does not defend the 100-speed it has slides below 35.50 USD, the metal may be under increased pressure, with the next significant support at USD 35.00, and then 34.50 USD. For now, compact -term prejudice remains carefully tilted to the minus, unless the buyers regain control over USD 36.50 with conviction.

abcd
sadasda

Find us on

Latest articles

Related articles

See more articles

USD/JPY remains unchanged above 158.00 amid trade war fears

During Tuesday's Asian session, the USD/JPY pair remains stable near 158.15. The pair remains steady as an...

Dow Jones Industrial Average falls as trade war rhetoric...

The Dow Jones Industrial Average (DJIA) started the modern trading week on a tame, tariff-fueled note, reminiscent...

USD/CHF falls below 0.8000 as US-EU tensions revive demand...

The Swiss franc (CHF) attracted novel buyers against the US dollar (USD) on Monday as tensions escalated...

GBP/JPY rises above 211.50 after BoE eases bets on...

GBP/JPY breaks its three-day streak of declines, trading at around 211.70 on Monday in Europe. The exchange...

Silver Price Forecast: XAG/USD Jumps Above $92.50 on Protected...

During Monday's Asian trading hours, the price of silver (XAG/USD) remains in positive territory near $92.65. The...

OPEC+ production does not exceed December targets – Commerzbank

OPEC+ production was 720,000 barrels per day below target in December, with Russia and Kazakhstan contributing most...