SILVER Technical Analysis: Weekly Chart

In the weekly charts, SILVER is trading in an upward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 23.086 and the resistance level is at 26.722

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

SILVER Technical Analysis: Daily Chart

In the daily charts, SILVER is trading below its previous upward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 23.366 and the resistance level is at 24.128

SILVER is trading outside and below its previous upward channel until there is a trend reversal.

How to trade SILVER this week:

SILVER is trading in an upward channel until there is a trend reversal and the following opportunity can be taken when the trend reverses:

TRADE SUGGESTION: SELL AT 22.990, TAKE PROFIT AT 21.362 AND STOP LOSS AT 24.164