ISilivere (XAGUSD) Ixabiso lophule iNqanaba le-$21 eliya kwiNqanaba lokuchasa le-$23

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Bulls’ pressure is increasing in the Silver market

SILVER Weekly Price Analysis – 01 December

An increase in the bulls’ momentum may lead to the breaking up of the $22 resistance level which may increase to $23 and $24 resistance levels. In case the bears defend the resistance level of $22 bearish movement may be triggered and the support level of $21 may be broken downside, the price may reduce to $20 and $19.

XAGUSD Market

Amanqanaba aphambili:

Amanqanaba okumelana: $ 22, $ 23, $ 24

Amanqanaba enkxaso: $ 21, $ 20, $ 19

XAGUSD Ixesha elide intsingiselo: Bullish

XAGUSD is bullish on the long-term outlook. The metal was on a bearish movement last week when it pulled back to retest the support level of $20. The bulls interrupt the bearish movement at the just-mentioned support level. On 30 November, a strong daily bullish candle formed and broke up the resistance level of $21 and $22. The price is currently exposed to the $23 resistance level.

A daily bullish engulfing candle emerged. The resistance level of $21 was broken upside and the $23 level may be tested. An increase in the bulls’ momentum may lead to the breaking up of the $22 resistance level which may increase to $23 and $24 resistance levels. In case the bears defend the resistance level of $22 bearish movement may be triggered and the support level of $21 may be broken downside, the price may reduce to $20 and $19.

XAGUSD Ixesha eliPhakathi iTrendi: Bullish

XAGUSD is on a bullish movement on the 4-hour chart. The price action formed a bullish chart pattern called a Double bottom chart pattern which indicates that bulls will dominate the market. The Price increases towards the resistance level to $21. The price pulled back to retest the support level of $20. The price bounces up toward the resistance level of $23.

Silver price is trading above the 9-periods EMA and 21-periods EMA. The Relative Strength Index period 14 is at 71 levels with the signal line displaying a bullish direction.

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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