ISilivere (XAGUSD) Ixabiso: I-Bearish Reversal kwi-$22.1 iNqanaba lokuchasa

UAzeez Mustapha

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Sellers may dominate the Silver market soon

Uhlalutyo lwexabiso leSilver ngeveki-17 Novemba

Should sellers maintain their momentum or exert more pressure, the support level of $20.4 may be broken downside, Silver may decrease and test the support levels of $19.4, and $18.8. The inability to break down the support level of $20.4 may lead to a continuation of the bullish trend toward $21.2, $21.7, and $22.1 resistance levels.

XAGUSD Market

Amanqanaba aphambili:

Amanqanaba okumelana: $ 21.2, $ 21.7, $ 22.1

Amanqanaba enkxaso: $ 20.4, $ 19.4, $ 18.8

XAGUSD Ixesha elide intsingiselo: Bearish

XAGUSD is bearish on the long-term outlook. The metal has been under the control of buyers for many weeks. The bullish momentum started when the “W” chart pattern formed at the support level of $18.1. The price soared to the resistance level at $22 on 15 November. A bearish candle pattern called bearish engulfing emerged at the resistance level of $22.1. The price is currently declining toward the support level of $20.4.

Silver is trading below the 9-periods EMA and 21-periods EMA which indicates that, sellers are ready to dominate the Silver market. Should sellers maintain their momentum or exert more pressure, the support level of $20.4 may be broken downside, the price may decrease and test the support levels of $19.4, and $18.8. The inability to break down the support level of $20.4 may lead to the continuation of the bullish trend toward $21.2, $21.7, and $22.1 resistance levels.

I-XAGUSD yexesha eliPhakathi iTrendi: Bearish

XAGUSD is on the bearish movement on the 4-hour chart. The price action in a 4-hour time frame formed a bearish pattern called “Head and Shoulder” at the resistance level of $22.1; it is an indication that sellers are ready to dominate the Silver market. Price is gradually moving down toward the south with the formation of bearish candles.

Silver price is trading below the 9-periods EMA and 21-periods EMA at distance. The Relative Strength Index period 14 is at 38 levels with the signal line displaying a bearish signal.

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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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