Silver Technical Analysis, Trade Ideas and Signals

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 currently trading below zero which indicates bearishness.

The immediate support is at 20.830 and the resistance level is at 22.975

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 an upward channel.

It is trading above MA (20) but below MA (50) and MA (100).

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

The immediate support is at 21.440 and the resistance level is at 22.470

SILVER is trading in an upward 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 20.660, TAKE PROFIT AT 17.860, AND STOP-LOSS AT 22.215

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