Silver (XAGUSD) Price: A Bearish Breakout at $23.43 Envisaged
Login

Silver (XAGUSD) Price: A Bearish Breakout at $23.43 Envisaged

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Sellers may dominate Silver market soon

SILVER Price Analysis – 19 January

Silver’s price may increase when bulls support the $23.43 price level, breaking through the $23.95 resistance level, which could take silver to the $24.33 and $24.66 resistance levels. When sellers exert more pressure, the price may drop below the $23.43 support level and as low as $22.93 and $22.15.

XAGUSD Market

Key Levels:

Resistance levels: $23.95, $24.33, $24.66

Support levels: $23.43, $22.93, $22.15

XAGUSD Long-term trend: Ranging

XAGUSD (Silver) is on the ranging movement on the long-term outlook. XAGUSD (Silver) is fluctuating over the long term. When the price of silver reached a high of $24.33 over the past three weeks, the buyers lost pace. It was unable to get past the previously specified level. Likewise, the purchasers were resisting the sellers’ attempts to lower the price below $23.43, therefore they were unsuccessful. The white metal began to fluctuate between $23.95 and $23.43 levels.

The silver price continues to trade in the vicinity of the 9-period and 21-period EMAs while the two EMAs are locked to one another. The signal lines on the Relative Strength Index period 14 are heading downward, signifying a sell signal, and are at level 49. Silver’s price may increase when bulls support the $23.43 price level, breaking through the $23.95 resistance level, which could take silver to the $24.33 and $24.66 resistance levels. When sellers exert more pressure, the price may drop below the $23.43 support level and as low as $22.93 and $22.15.

 XAGUSD Medium-term Trend: Ranging

XAGUSD is on the ranging movement on the 4-hour chart. A few weeks ago, Silver climbed to the $23.95 barrier level during a period of strong buyer momentum. To the $23.43 level of support, it withdrew. The resistance level of $23.95 was retested as a result of the bulls defending the previous level. Price has been varying ever since then, ranging between $23.95 and $23.43.

The price of silver is currently hovering over both 9-period and 21-period EMAs. The signal lines on the relative strength index period 14 are at 38 levels pointing down to indicate a sell.

You can purchase Lucky Block here. Buy LBLOCK

  • 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