Silver Intraday: the RSI is overbought
Silver (XAG/USD)
+0.114+0.17%
The upside prevails as long as 64.74 is support, with 67.47 and 68.16 as targets
Our pivot point is at 64.74.
Our preference: The upside prevails as long as 64.74 is support, with 67.47 and 68.16 as targets
Alternative scenario: below 64.74, expect 63.57 and 62.88.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 64.57 and 64.07). The Silver is trading above its upper Bollinger band (standing at 65.90).
Supports and resistances:
68.86 *
68.16 **
67.47
65.95 last
64.74 **
63.57 *
62.88 **
Our preference: The upside prevails as long as 64.74 is support, with 67.47 and 68.16 as targets
Alternative scenario: below 64.74, expect 63.57 and 62.88.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The price is above its 20 and 50 period moving average (respectively at 64.57 and 64.07). The Silver is trading above its upper Bollinger band (standing at 65.90).
Supports and resistances:
68.86 *
68.16 **
67.47
65.95 last
64.74 **
63.57 *
62.88 **
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