Silver (XAG) Erases Gain Amid Positive Move Towards $23.50 Level
Login

Silver (XAG) Erases Gain Amid Positive Move Towards $23.50 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

XAGUSD Price Analysis – October 18

Silver (XAG) positive fortunes faded around the $23.50 mark, with the price erasing its most recent thrilling bounce above the moving average of 13. During the Monday session, the commodity rose slightly and was last seen lingering near day highs in the $23.22 -$23.40 range.

Key Levels
Resistance Levels: $24.50, $24.00, $23.50
Support Levels: $22.87, $22.10, $21. 42
XAGUSD Long term Trend: Ranging
Today, the white metal has struggled and it’s unable to break above the top range of the surge around $23.50, it is currently trading in the red at $23.22 per ounce. Beyond the $23.50 mark, the bulls may regain a stronger grasp.

The XAGUSD pair is held by the rebound trend and the trend may remain in a recovery mode. A closing above today’s upper range, currently at $23.45, might signal a low rebound from the $21.42 level continuation of the rally that began in late September, paving the way for a break beyond the $23.50 barrier.
XAGUSD Short term Trend: Ranging
Silver (XAG) has a greater range on the 4-hour time frame from late September lows at a level of $21.42, suggesting potential upside. As a result, the metal continues to climb. It has already broken through the previous high of $23.00, signaling that the next upward phase is underway.

The pair is expected to find support at $22.87, and a break of that level might take it to the next level of $22.10 support. The pair is expected to hit its initial critical resistance around $23.50, with a break taking it to the next level of resistance at $24.00.

Note: Learn2Trade.com 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News