Bulls May Take Over Silver Market Next Week – Cryptovibes.com – Daily Cryptocurrency and FX News

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


SILVER Weekly Price Analysis – August 29

The breakup of the $23 resistance level may increase the price to $25 provided $24 level does not hold. An interruption of the bullish momentum by the bears may decrease the price towards the support levels at $22, $21 and $20.

XAGUSD Market

Key Levels:

Resistance levels: $23, $24, $25

Support levels: $22, $21, $20

XAGUSD Long-term trend: Bullish

XAGUSD is bullish on the long-term outlook. The bears were able to push down the price to the support level of $22 on August 12. It pulled back to retest the $23 price level, bounced off and tested the $22 level second time on August 20. The following day, a daily bullish candle formed engulfs the previous candles indicate that bulls are getting ready to take over Silver market.

Silver daily chart, August 29

Silver is trading above the 9 periods EMA and 21 periods EMA with the fast moving Average (9 periods EMA) above the slow moving Average (21 periods EMA). The breakup of the $23 resistance level may increase the price to $25 provided $24 level does not hold. An interruption of the bullish momentum by the bears may decrease the price towards the support levels at $22, $21 and $20. The relative strength index period 14 is at 50 levels with the signal line bending up to indicate a buy signal.

 XAGUSD Medium-term Trend: Bullish

XAGUSD is on the bullish movement on 4-hour chart. The bears were unable to push the price below $22 price level last week. The price of Silver was dangling within the $23 resistance level and Support level of $22. The resistance level of $23 has been tested three times. Third time was on August 27, the strong daily bullish candle formed broke up the $23 resistance level and it is currently exposed to the $24 resistance level.

Silver 4-hour chart, August 29

Silver price is trading above the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is at 70 levels with the signal line displaying bullish direction.

Source link

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close