Silver Intraday: Watch 71.01
Silver (XAG/USD)
+1.445+2.12%
The upside prevails as long as 68.28 is support, with 71.01 and 71.67 as targets
Our pivot point is at 68.28.
Our preference: The upside prevails as long as 68.28 is support, with 71.01 and 71.67 as targets
Alternative scenario: below 68.28, expect 67.19 and 66.54.
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 price is above its 20 and 50 period moving average (respectively at 68.81 and 68.06). The Silver is trading above its upper Bollinger band (standing at 69.79).
Supports and resistances:
72.33 *
71.67 **
71.01
69.83 last
68.28 **
67.19 *
66.54 **
Our preference: The upside prevails as long as 68.28 is support, with 71.01 and 71.67 as targets
Alternative scenario: below 68.28, expect 67.19 and 66.54.
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 price is above its 20 and 50 period moving average (respectively at 68.81 and 68.06). The Silver is trading above its upper Bollinger band (standing at 69.79).
Supports and resistances:
72.33 *
71.67 **
71.01
69.83 last
68.28 **
67.19 *
66.54 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
