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Silver is Showing Weakness Near the Key Resistance

April 7, 2021
in ANALYSIS, DAILY UPDATES, Forex, Home, MARKETS, Spot Metals, Technical Analysis
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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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    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

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