Silver Price Analysis: Bears on the prowl


  • XAG/USD bears remain well below the weekly counter-trendline.
  • Silver is developing a bearish head & shoulders in a 4-hour time frame. 

Silver is trading at between $25.16 and $25.20 in the open and offered below daily resistance

The following is a top-down analysis that arrives at a bearish conclusion for the white metal.

According to the weekly chart, silver’s bullish trend could well have met its apex and be set for a significant downturn in the coming weeks ahead.

The price has dropped below the dynamic weekly support line and from a daily perspective, the price is below the June-July support between 25.75 and 25.52. 

The price has made over a 38.2% Fibonacci retracement and is pressured lower from there which opens prospects of a downside continuation for the days ahead.

However, a bullish start to the week could test the 4-hour 20 EMA that guards 25.31 resistance.

If the bears step in there or below, then the downside extension to test the 24.50s initially and the 24.30s thereafter will be on the cards. 

On the flip side, however, a stronger correction will see the 50% mean reversion at 25.60 that meets prior lows daily ahead of the 61.8% Fibo in 25.83.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends losses after robust US retail sales

EUR/USD is trading closer to 1.1750, extending its losses after US Retail Sales came out at +0.7% against -0.8% in August. ECB President Christine Lagarde said the economy is still not out of the woods. 

EUR/USD News

GBP/USD slides under 1.38 on robust dollar demand

GBP/USD is trading under 1.38, significantly lower after US Retail Sales beat estimates by rising 0.8% in August. The UK government reshuffle passed smoothly for the pound.

GBP/USD News

XAU/USD nosedives to the lowest level since August 13

Gold continued losing ground through the early North American session and dived to the lowest level since August 13, further below the $1760 region post-US macro releases. 

Gold News

Dogecoin killer Shiba Inu ready for new bull run

Shiba Inu gets listed on Binance.US, SHIB price recovers from the loss posted over the past week. The Shiba-Inu-themed token is one of the top 10 most mentioned cryptos on Twitter alongside BTC, ETH, DOGE, ADA.

Read more

AMC trades lower as CEO clarifies cryptocurrency payments

NYSE:AMC fell by 0.97% on Wednesday and lagged other meme stocks during the session. CEO Adam Aron clarifies which cryptos AMC will accept. High profile Hollywood directors are demanding longer theatrical windows.

Read more

Forex MAJORS

Cryptocurrencies

Signatures