Buyers lose steam on the silver market
SILVER Price Analysis – 27 July
Should buyers are able to hold the $24 price level and the $25 resistance level is broken, Silver may increase and test the $26 and $27 resistance levels. The $23 and $22 price support levels may be tested if sellers exert greater pressure, which would result in a breach of the $24 level downward
XAGUSD Market
Key Levels:
Resistance levels: $24,$25, $26,
Support levels: $23, $22, $21
XAGUSD Long-term trend: Bearish
Silver’s long-term outlook is bearish. The price of silver found resistance near $25 following a protracted bullish trend and the development of a double-top chart pattern. At the $25 level of resistance, a bearish reversal chart pattern known as a “double top” was formed. The price of silver is falling. Last week, it pulled back and retested the $25 level. Today’s price decrease is occurring when sellers gained more momentum.
While the fast EMA is crossing the slow EMA downward, white metal is currently trading in a bearish trend below the 9-period and 21-period exponential moving averages. The relative strength index’s period 14 signal lines are pointing down at 33. If sellers are able to hold the $24 price level and the $23 support level is broken, silver’s price may decrease and test the $22 and $21 support levels. The $25 and $26 price resistance levels may be tested if buyers exert greater pressure, which would result in a breach of the $24 level upward
XAGUSD Medium-term Trend: Bearish
XAGUSD 4-hour chart shows a bearish phase. It appears feasible for the double top, a bearish reversal chart pattern. Before starting a rapid descent, the price of white metal twice reached a high of $25. As sellers gathered momentum, the $24 barrier levels from earlier became resistance levels. Last week, the cost seems less exorbitant as we get near to $25. Currently, the price is declining toward the previous low of $23 level.
A negative market is present since the price of silver is currently trading below significant dynamic resistance levels. The relative strength index period 14 signal line is heading down at a level of 33, signaling a sell.
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.