Silver price slid late in the North American session due to overall US Dollar strength across the board amid falling US Treasury yields. Despite that, the XAG/USD trades at $27.23, down 0.71%.
The grey metal remains upward-biased despite retreating toward the $27.20 area on Tuesday. It should be said that XAG/USD is still trading within the 50% and 38.2% Fibonacci retracements, drawn from the latest cycle low and high, each at $24.33 and $29.78, respectively.
If Silver buyers would like to regain control, they must clear the 38.2% Fibo retracement at $27.70. Once surpassed, emerge key resistance levels, like the $28.00 psychological figure, followed by the 23.6% Fibo retracement at $28.49 ahead of $29.00.
On the flip side, if sellers want to push prices lower, they must drag prices below the 50% Fibo retracement at $27.05. Once done, sellers must clear $27.00, followed by the confluence of the May 2 low and the 50-day moving average (DMA) at $26.02/08.
Overview | |
---|---|
Today last price | 27.24 |
Today Daily Change | -0.20 |
Today Daily Change % | -0.73 |
Today daily open | 27.44 |
Trends | |
---|---|
Daily SMA20 | 27.58 |
Daily SMA50 | 25.87 |
Daily SMA100 | 24.48 |
Daily SMA200 | 23.84 |
Levels | |
---|---|
Previous Daily High | 27.48 |
Previous Daily Low | 26.44 |
Previous Weekly High | 27.44 |
Previous Weekly Low | 26.02 |
Previous Monthly High | 29.8 |
Previous Monthly Low | 24.75 |
Daily Fibonacci 38.2% | 27.08 |
Daily Fibonacci 61.8% | 26.84 |
Daily Pivot Point S1 | 26.76 |
Daily Pivot Point S2 | 26.07 |
Daily Pivot Point S3 | 25.71 |
Daily Pivot Point R1 | 27.81 |
Daily Pivot Point R2 | 28.17 |
Daily Pivot Point R3 | 28.86 |
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