. Commodity Analysis - Silver Technical Analysis - 19 September 2022

Commodity Analysis – Silver Technical Analysis – 19 September 2022

19 Sep 2022

SILVER Technical Analysis: Weekly Chart

Silver Technical Analysis

In the weekly charts, Silver is trading in a down channel. Silver is currently trading below all SMA except MA (5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 19.000 the resistance level is at 19.500

Silver will trade in a down channel until there is a trend reversal. 

SILVER Technical Analysis: Daily Chart

Silver Technical Analysis

In the daily charts, Silver was trading in a down channel. Silver is currently trading above all SMA except MA (5).

RSI is in the neutral zone which indicates neutralness. MACD is currently above zero which indicates bullishness.

Its immediate support is 18.800 the resistance level is at 19.600

Silver was traded in a down channel before there is an upside breakout.   

How to Trade Silver this Week:

Silver will follow the downtrend until its trend reversal. So, remain bearish on Silver

TRADE SUGGESTION- SELL AT 19.262, TAKE PROFIT AT 18.800 AND STOP LOSS AT 19.500