SILVER Technical Analysis: Weekly Chart

In the weekly charts, SILVER is trading within a rectangle.

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 20.735 and the resistance level is at 22.745

SILVER is trading within a rectangle until there is a breakout or a breakdown.

SILVER Technical Analysis: Daily Chart

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 currently trading below zero which indicates bearishness.

The immediate support is at 20.590 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 within a rectangle until there is a breakout or a breakdown and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 20.320, TAKE PRFOIT AT 18.400, AND STOP-LOSS AT 21.750