SILVER
SILVER
16.93 USD (+0.36%)
Real time - Gold & Silver Spot
Open: 16.87
Change: +0.06
Volume: 27,736
Low: 16.76
High: 17.12
High / Low range: 0.36
Type: Commodities
Ticker: XAGUSD
ISIN:

SILVER - Started a Bullish Run Following the Rebound on $16.05 - 05/16/2017

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  • Timeframe : Daily

Silver had a positive week after three consecutive negative sessions. The XAG/USD pair had a strong rebound on the $18.60 resistance level and started an aggressive sell-off until the $16.05 support barrier. The pair plummeted more than 9% since April but now is trying to cover some of its losses.

Currently, the metal has an upward attitude as it completed the fourth positive day in a row. The technical structure suggests some bullish momentum as both are moving slightly higher. The MACD oscillator jumped above its trigger line and is approaching the zero line whilst the RSI indicator is rising in the negative zone. The next level to watch is the $17.50 resistance level which overlaps with the 50 and 100 SMAs, if the price climbs above the $16.80 resistance level.
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