Silver Price Analysis: XAG/USD struggles near $22.20 daily highs

  • Silver fails to capitalize on the previous day’s upside momentum on Friday.
  • XAG/USD remains pressured below the 21-day SMA since September 16.
  • Prices hover in the short term trading range of $22.00 and $23.00.

Silver Price (XAG/USD) remains poised to close the week on a lower note. The prices opened higher but failed to preserve the momentum. At the time of writing, XAG/USD trades at $22.03, down 0.61% for the day.

XAG/USD daily chart

XAG/USD monthly chart

On the daily chart, the white metal has been under continuous selling pressure from the high of $24.86 made on September 3, which also coincides with the break of the 50-day Simple Moving Average (SMA) at $24.87. Now, If the prices sustains below the intraday session’s low, it would continue with the downside price movement with the previous day’s low of $21.42. XAG/USD could further test the July, 2020 lows of $17.76.

Alternatively, the Moving Average Convergence Divergence (MACD) indicator reads in the oversold zone with stretched selling conditions. Any uptick in the MACD would make the bulls hopeful of the $22.50 horizontal resistance level followed by the psychological $23.00 mark.

Furthermore, daily close above the 20-day SMA and the bearish sloping line from the mentioned level would strengthen the outlook for the XAG/USD bulls to touch the $23.50 horizontal resistance level.

XAG/USD additoanl levels


Today last price 22.02
Today Daily Change -0.15
Today Daily Change % -0.68
Today daily open 22.17
Daily SMA20 23.17
Daily SMA50 23.79
Daily SMA100 25.31
Daily SMA200 25.74
Previous Daily High 22.24
Previous Daily Low 21.47
Previous Weekly High 23.15
Previous Weekly Low 22.04
Previous Monthly High 24.87
Previous Monthly Low 21.42
Daily Fibonacci 38.2% 21.94
Daily Fibonacci 61.8% 21.76
Daily Pivot Point S1 21.68
Daily Pivot Point S2 21.19
Daily Pivot Point S3 20.92
Daily Pivot Point R1 22.45
Daily Pivot Point R2 22.73
Daily Pivot Point R3 23.21



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