Silver Price: XAGUSD Pullback Movement Continues From $26.50 Level
Login

Silver Price: XAGUSD Pullback Movement Continues From $26.50 Level

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

XAGUSD Price Analysis – September 21

XAGUSD pullback movement continues from to $26.50 level during the early European session on Monday. The white metal dropped from $26.96 to $26.45 levels at the start of the day’s trading. The price moved lower after some USD strength earlier in the session and has been moving pretty sideways for a while now.

Key levels
Resistance Levels: $30.00, $28.90, $27.15
Support Levels: $26.20, $25.00, $23.78
XAGUSD Long term Trend: Ranging
Looking at the daily chart, the main feature is the large consolidation pattern from Aug 14. The bottom trendline from late March remains intact and had not been pierced. This support matched up with several horizontal support zones with a key one at $25.75 level.

Other than that, the indicators are pretty flat as the market is moving sideways. The Relative Strength Index is about to move beneath its midline and the moving averages 5 and 13 is just about to signal a change of trend.
XAGUSD Short term Trend: Ranging
The 4-hour time frame suggests continuous consolidation, alternatively, a downside break of the short-term horizontal support, near the $26.20 level, will quickly recall the $26.00 threshold on the chart before targeting the monthly low close to the $25.85 level.

Considering the range like formation and the normal RSI conditions, the white metal traders are likely to remain standby unless silver prices offer any notable breakout. We’ll target short positions below $27.00 handle with targets at $26.20 & $26.00 levels in extension.

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
  • 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