Silver Trading Tips – Silver Technical Analysis, Trade Signals and News
17 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 20.426 and the resistance level is at 23.232.
SILVER is trading below and outside 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 selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.
The immediate support is at 20.772 and the resistance level is at 22.044.
SILVER is trading in a downward channel until there is a trend reversal.
How to trade SILVER this week:
SILVER is trading below and outside its previous upward channel until there is a trend reversal and the following opportunity can be taken: