XAGUSD Price Analysis – November 23
Silver price rose to $24.39 level, up 0.32% intraday, amid Monday’s trading session. In doing so, the white metal battles the $24.50 barrier as market hopes for fiscal support. XAGUSD trades sharply beneath highs made at the start of the European session but holds onto decent gains on the day.
Key Levels
Resistance Levels: $26.50, $25.56, $24.50
Support Levels: $23.50, $22.83, $20.43
XAGUSD Long-term Trend: Ranging
XAGUSD rallied from around $24.39 to briefly try to break the $24.50 barrier but then reversed sharply for the remainder of the European session, falling beneath levels before spiking under $24.
However, if the bulls in silver continue to push the white metal higher throughout the session, the most notable resistance levels outside of today’s high of just above $24.50 will be highs around $25.07 and higher levels at $26.00. While there is still a long-term uptrend, the short and medium-term trends have already turned bearish.
XAGUSD Short-term Trend: Ranging
At the end of the US session, XAGUSD breached through the support structure of the short-term moving average 13. The bears seem to come into play again today as the resistance around the $24.50 mark remains unchanged.
Now that it has broken down and tested the ascending trendline support, it is implied that XAGUSD will experience even more decline in the future, which will likely mean a test of the previous week’s lows at $23.64.
Note: Learn2.Trade 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
- 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.