Current trend

Yesterday the price of silver fell.

The pair is pressured by strengthening across the market US Dollar that was supported by unexpectedly strong US labour market statistics that came out on Friday.

At the same time, the price is supported by instability on the Chinese stock market. Investors begin to worry that the Chinese government is failing to find a way to stabilise the market. Amid growing concerns, the price of safe-haven assets such as silver is growing.

Support and resistance

Bollinger Bands on the daily chart shows slow downward movement. MACD is falling and giving a weak sell signal. Stochastic is also moving down but is reaching the oversold zone.

The indicators recommend waiting for clearer trading signals.

Support levels: 13.77 (30 December low), 13.63 (14 December low), 13.50, 13.25, 13.00.

Resistance levels: 13.90 (local high), 14.00, 14.18, 14.30, 14.40 (28 December high), 14.48, 14.63 (7 December high).

Trading tips

Long positions can be opened after the breakout of the level of 13.87 (with the appropriate indicators signals) with targets at 14.00, 14.11 and stop-loss at 13.80. Validity – 1-3 days.

Short positions can be opened after the breakdown of the level of 13.77 with the target at 13.50 and stop-loss at 13.90. Validity – 1-3 days.

XAG/USD: silver price falls

XAG/USD: silver price falls




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback