Buyers defends $23 level
SILVER Price Analysis – 14 December
Silver’s price may rise and test the $25 and $26 resistance levels if buyers can hold the $23 price level and the $24 resistance level is breached. With increased selling pressure, the $22 and $21 zone would be the target of a lower price breach of the $23 barrier.
XAGUSD Market
Key Levels:
Resistance levels: $24, $25, $26
Support levels: $23, $22, $21
XAGUSD Long-term trend: Bullish
The long-term forecast for silver is positive. When sellers gained momentum the price dropped to the support level of $22. Buyers defended the just mentioned level, more pressure was applied by the bulls, and the white metal rose to its prior high at $23 barrier level. Bulls created a powerful bullish candle today to defend the previously recommended level. The price breaches resistance levels at $23. With a target price of $24, Silver has been progressively gaining value. Spending more than $24 is challenging for customers.
At the moment, the silver price is above the nine and twenty-one-period exponential moving averages (EMAs). At point 54, the period 14 signal lines of the relative strength index are bending upward. Silver’s price may rise and test the $25 and $26 resistance levels if buyers can hold the $23 price level and the $24 resistance level is breached. With increased selling pressure, the $22 and $21 zone would be the target of a lower price breach of the $23 barrier.
XAGUSD Medium-term Trend: Bullish
A bullish phase is beginning to emerge on the 4-hour XAGUSD chart. The start of a bullish reversal is indicated by a pin bar candle pattern that emerged near the $22 support level. The $23 level that was once resistance for silver has now become support as it began its incline. Due to the unanticipated incline in demand, white metal’s price rise by $24. At the moment, Silver is facing a $24 price point.
As evidenced by the current silver price, which is trading above significant dynamic resistance levels, the market looks to be performing higher. The down-pointing period 14 signal line of the relative strength index is currently at 68. That suggests a buy.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.