Silver Technical Analysis, Trade Ideas and Signals

Silver Technical Analysis

SILVER Technical Analysis: Weekly Chart

Silver Technical Analysis

In the weekly chart, SILVER is trading below its previous upward 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 20.396 and the resistance level is at 24.608

SILVER is trading outside and below its previous upward 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 20.806 and the resistance level is at 22.516

SILVER is trading in an upward channel until there is a trend reversal.

How to trade SILVER this week:

SILVER is trading outside and below its previous upward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 20.025, TAKE PROFIT AT 16.832, AND STOP-LOSS AT 21.832

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