Silver Technical Analysis, Trade Ideas and Signals
31 May 2022
SILVER Technical Analysis: Weekly Chart
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
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: