SILVER Technical Analysis and How To Trade Silver

Silver Technical Analysis

SILVER Technical Analysis: Weekly Chart

SILVER Technical Analysis

In the weekly charts, SILVER is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 20.300 and the resistance level is at 22.290

SILVER is trading in a downward channel until there is a trend reversal.

SILVER Technical Analysis: Daily Chart

SILVER Technical Analysis

In the daily charts, SILVER is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

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

The immediate support is at 20.545 and the resistance level is at 21.895

SILVER is trading in a downward channel until there is a trend reversal.

How to trade SILVER this week:

SILVER is trading in a downward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 19.980, TAKE PROFIT AT 17.570, AND STOP-LOSS AT 21.415

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