Silver prices tumble below 100-DMA at $28.49, trading at $27.86.
Bearish RSI suggests further declines, with first support at $27.31 and psychological level at $27.00.
Resistance seen at $29.00, with potential for higher prices if buyers regain control.
Silver prices traded within the 80 cents trading range, yet they lost close to 0.20% on Monday, as traders braced for a busy US economic schedule that would include crucial events such as the Federal Reserve’s monetary policy decision and the latest Nonfarm Payrolls report. The XAG/USD exchanged hands at $27.86, below its opening price.
XAG/USD Price Analysis: Technical outlook
Silver's price tumbled below the 100-day moving average (DMA) at $28.49, opening the door for lower spot prices. Momentum is bearish, as depicted by the Relative Strength Index (RSI), an indication that the non-yielding metal could test lower prices.
The XAG/USD's first support would be the July 29 low of $27.31, followed by the $27.00 psychological level. A breach of the latter will expose the latest cycle low, the May 2 bottom at $26.02, before testing the 200-DMA at $25.89.
Penafian: Pandangan yang dinyatakan adalah semata-mata dari pengarang dan tidak mewakili kedudukan rasmi Followme. Followme tidak bertanggungjawab ke atas ketepatan, kesempurnaan, atau kebolehpercayaan maklumat yang diberikan dan tidak bertanggungjawab untuk sebarang tindakan yang diambil berdasarkan kandungan, melainkan dinyatakan secara bertulis secara jelas.
Suka artikel ini? Tunjukkan penghargaan anda dengan menghantar tip kepada pengarang.
Balas 0
terhangat
Tiada ulasan lagi.Jadilah yang pertama berkongsi pandangan anda.
Tiada ulasan lagi. Jadilah yang pertama berkongsi pandangan anda.