Silver Price: XAGUSD Bulls Flash Caution As Price Stays Beneath $27.00 Mark

Azeez Mustapha
17 August 2020 | Updated: 17 August 2020

XAGUSD Price Analysis – August 17

Silver (XAUUSD) consolidates the downside break started in the previous session as the price drops to $25.82 level. A caution flash to buyers implies the spot is primed for additional losses as the pair stays beneath $27.00 mark.

Key Levels
Resistance Levels: $30.00, $29.27, $28.15
Support Levels: $25.00, $23.78, $21.38
XAGUSD Long term Trend: Bullish
As shown on daily, the bears need a complete break underneath the $26.20-level and the ascending moving average of 13 support to cause a fresh sell-off toward the $26 mark. The next downside goal is set at a low of $23.44 level on August 12, which will be crucial to maintaining the bullish bias in the medium term.

On the flip side, for a higher leap, the bulls need validation beyond a range of robust levels of resistance positioned at around mid-$27. The area is the combination of a $27.15-$27.74 levels of horizontal resistance.
XAGUSD Short term Trend: Ranging
Besides, buyers may feel inclined to contest the recently revived multi-year high near $29.85 level on the nearby resistance line break at $27.74 level in the 4-hour time frame.

The pair is supposed to find support at $25.00 level, and a drop through may take them to the next level of support at $24.50. The pair is projected to reach its first level of resistance at $27.74, and a spike through may take it to the next level of resistance at $28.15.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.