Silver Price Analysis: XAG/USD drops to 2-day lows below $18.00/oz

XAG/USD is falling to 2-day lows testing the 50 SMA on the four-hour chart.
The level to beat for bears is the 17.25 support.

Flavio Tosti Independent Analyst

Silver four-hour chart

Silver is dropping below $18.00/oz while challenging the 50 SMA on the four-hour chart. A continuation of the bear move can extend to the 17.25 and 16.75 support levels in the medium-term. On the flip side, if the bulls can gather some traction, resistance can emerge near the 17.75 level followed by 18.40 resistance.

Resistance: 17.75, 18.40, 18.80

Support: 17.25, 16.75, 16.10

Additional key levels

XAG/USD

Overview
Today last price	17.58
Today Daily Change	-0.50
Today Daily Change %	-2.77
Today daily open	18.08

Trends
Daily SMA20	16.7
Daily SMA50	15.63
Daily SMA100	16.31
Daily SMA200	16.96

Levels
Previous Daily High	18.37
Previous Daily Low	17.78
Previous Weekly High	17.91
Previous Weekly Low	16.85
Previous Monthly High	17.91
Previous Monthly Low	14.72
Daily Fibonacci 38.2%	18.01
Daily Fibonacci 61.8%	18.14
Daily Pivot Point S1	17.79
Daily Pivot Point S2	17.49
Daily Pivot Point S3	17.2
Daily Pivot Point R1	18.37
Daily Pivot Point R2	18.67
Daily Pivot Point R3	18.96

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.