Fri, Aug 19, 2022 @ 14:04 GMT
HomeContributorsTechnical AnalysisXAG/USD Tests Major Resistance

XAG/USD Tests Major Resistance

Silver extends its recovery on the back of a weak US dollar. The metal saw support at the psychological level of 22.00.

A break above the resistance at 22.80 and then an acceleration to the upside indicates strong buying interest. An overbought RSI has temporarily held the rally back.

The bulls are testing the daily resistance at 23.40. A breakout could shake sellers out and trigger a reversal above 24.00. On the downside, buyers could be lurking around 22.60 in case of a pullback.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading