Current trend

The price of silver maintains a long lateral consolidation within the range of 13.90–14.95.

Over the past year and a half, the dynamics of the instrument movement has significantly decreased due to the equalization of supply and demand, as well as a fall in interest in the asset from investors. In early November, the price fell by one dollar, and in the second half of the month, it went up again. Now the precious metal is traded at 14.30. It should be noted that recent fluctuations of USD have virtually no effect on the instrument.

Support and resistance

In the medium term, it is expected that the price will try to break down the level of 13.90, trading within a narrowing range. After this, the instrument will slowly move to the key support level of 12.50.

Technically, the pair remains in the upward channel, and indicators confirm the decline forecast: MACD indicates the growth of the volume of short positions, and Bollinger Bands are pointing downwards.

Support levels: 14.25, 14.00, 13.90, 13.30, 12.80, 12.50.

Resistance levels: 14.75, 14.90, 14.95, 15.15, 15.50.

Trading tips

Short positions may be opened from the current level and from strong resistance levels of 14.55, 14.75, 14.95 with targets at 13.90, 12.50 and stop loss at 15.20.

Spot Silver

BuySellSpread
14.64114.508133

Scenario

TimeframeWeekly
RecommendationsSELL
Entry Point14.28
Take Profit13.90, 12.50
Stop Loss14.55
Support levels12.50, 12.80, 13.30, 13.90, 14.00, 14.25, 14.75, 14.90, 14.95, 15.15, 15.50

Alternative scenario

RecommendationsSELL LIMIT
Entry Point14.55, 14.75, 14.95
Take Profit13.90, 12.50
Stop Loss15.20
Support levels12.50, 12.80, 13.30, 13.90, 14.00, 14.25, 14.75, 14.90, 14.95, 15.15, 15.50
XAG/USD: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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