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Silver is Showing Weakness Near the Key Resistance

FTD Limited by FTD Limited
April 7, 2021
Reading Time: 1 min read
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XAGUSD
XAGUSD

Silver has given a signal of a reversal to the downside near the upper line of the bullish wedge formation. 25.25 will be a key resistance level for silver to go up. Despite Biden’s new program silver and gold continue to show signs of weakness. ETFs selling gold aggressively for a while, silver stood a lot more steady relative to gold but over time affected from the bullion more and more.

XAGUSD Hourly Chart
XAGUSD Hourly Chart

If silver can’t break the 25.25 resistance, the price may fall to Fibonacci %50 or %61.8 levels, 24.54 – 24.36.

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