Silver Trading Tips: Silver Technical Analysis and Trade Signals
03 May 2022
SILVER Technical Analysis: Weekly Chart
In the weekly charts, 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 21.275 and the resistance level is at 24.145
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 a downward channel.
It is trading below all SMAs: MA (20), MA (50), and MA (100).
RSI is in oversold region which indicates a strong bearish pressure. MACD is currently trading below zero which indicates bearishness.
The immediate support is at 22.225 and the resistance level is at 22.949
SILVER is trading in a downward 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: