Wed, Jun 29, 2022 @ 00:30 GMT
HomeContributorsTechnical AnalysisXAG/USD Tests 5-Month Low

XAG/USD Tests 5-Month Low

Silver edged lower as US Treasury yields stayed high. A break below the recent consolidation range at 22.20 suggested a lack of buying interest and prompted early bulls to bail out. The price is testing last December’s low at 21.50. As the RSI shows an oversold condition on both daily and hourly charts, profit-taking from the short-side and dip-buying could cause a rebound. 22.50 is a fresh resistance and 23.25 a major hurdle before buyers could push for a reversal. Otherwise, the psychological level of 20.00 might be next.

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