- USD (-)
Real time - Gold & Silver Spot
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Type: Commodities
Ticker: XAGUSD

SILVER - Is Developing Within Bearish Sloping Channel - Hit the Upper Band - 08/22/2017

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  • Timeframe : Daily

The white metal is posting the second bullish month in a row after the sharp sell-off the previous month and is developing within a downward sloping channel on the daily chart. In the beginning of this month, the XAG/USD pair jumped more than 5% and drove the price above the 100-week SMA where the price is still trading.

Technically, the metal is holding within the 50 and 100 SMAs, on the medium-term timeframe, indicating for weak momentum. Going to the short-term chart, the price had a pullback on the $17.25 resistance level, but if the price successfully surpasses the latter level, it will push the price towards the $17.75 resistance barrier. On the other side, if the price falls below the 50-SMA, it will hit the $16.15 support level. MACD and RSI are moving in the bullish path and are approaching their mid-levels.
This member did not declare if he had a position on this financial instrument or a related instrument.

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