Silver Price: XAGUSD Upside Bias Stays Bullish Past $17.63 Level

Share On Facebook
share on Linkedin

SILVER finished at $17.53 on Tuesday and lost $22.0 (-1.22 percent). That being said, in today’s session, Silver (XAG) is growing as anticipated while buyers are about to challenge upside barriers at the $17.90/$18.00 level. As the market is steaming up and trading high back to the days before.

XAGUSD Price Analysis – June 10

Key Levels
Resistance Levels: $19.65, $18.94, $18.20
Support Levels: $17.25, $16.72, $15.84

XAGUSD Long term Trend: Bullish
The pair closed lower but above the opening of the preceding day creating a bearish Harami Candle after moving lower in the corresponding session. Prices have risen back up but still below the $18.20 level main technical barrier, which is likely to serve as a forward-looking resistance.

The market may again run into bears at the level of around $18.20 for the third time in a row after finding sellers in the same area in previous sessions and at $18.37 a few days ago. The last time this happened on June 2, on the very next trading day, SILVER ended up losing about 3 percent.

XAGUSD Short term Trend: Bullish
Silver price bounced from $17.63 level on the 4-hour time frame, up 1.30 percent on a day, as seen Wednesday during the European session. Even so, a bullish technical structure of a rising trend is yet to be confirmed by the white metal, on the four-hour chart to validate further buying.

On the other hand, the pair is supposed to find support at $17.63, and a decline through might take it to the next level of support at $17.25.


CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210416 00:21:14