Silver (XAGUSD) Price: Will There Be Continue of Bullish Movement?

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.

SILVER Weekly Price Analysis – June 09

An increase in the bulls’ momentum may leads to the breaking up of $22 resistance level which may increase to $23 and $24 resistance levels. The breakdown of $21 support level may reduce the price to $19 and $17 levels.

XAGUSD Market

Key Levels:

Resistance levels: $22, $23, $24

Support levels: $21, $19, $17

XAGUSD Long-term trend: Ranging

XAGUSD is ranging on the long-term outlook. The bearish momentum failed as the Silver price action formed a candle pattern called an inside bar on the daily chart. This happened when the support level of $20 was tested by the white metal on May 12. The price increases and broken up $21 level aiming at $22 price level. The just mentioned level holds and price commenced a ranging movement.

Low volatility in the Silver’s market as Silver is trading over and around the 9 periods EMA and 21 periods EMA. The fast moving Average (9 periods EMA) is interlocked with the slow moving Average (21 periods EMA). An increase in the bulls’ momentum may leads to the breaking up of $22 resistance level which may increase to $23 and $24 resistance levels. The breakdown of $21 support level may reduce the price to $19 and $17 levels.

 XAGUSD Medium-term Trend: Ranging

XAGUSD is on the ranging movement on 4-hour chart. Price increases towards $22 price level when the metal bounced up from the support level of $20 on May 13.The bulls interrupted the price increase with the formation of doji candle. The price pulled back towards the support level of $21.

Silver price is hovering over the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is at 47 levels with the signal line displaying no specific price direction.

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

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.