FX.co ★ XAG/USD, SILVER

Silver Technical Analysis Today Im talking about silver. The market price is currently between very strong support and resistance. The current market price is 38.863. The price has been falling for the past few days and managed to create a new support level. After completing the very strong support level below, the price is now starting to rise again, but since the resistance level is very strong, the price will need to fall back to the support level. The resistance level for the market price is 39.020, if the price can break through this resistance level, there is a very strong resistance level above it, and the price may reach this resistance level. The next resistance level of the market price is 39.487. If the price does not rise but falls, then the support level of the market price is 38.154. If the price can break through this support level, a new support level can be created. the following few days.

Now lets talk about today's chart prepared on the h4 time frame. On the H4 time frame, we can see how the market price formed a downtrend on the chart and then continued to decline. If this candle breaks the closing resistance on the h4 time frame, the market price will be able to form new resistance in the coming days. The next resistance level for the market price will be 40.230. If this is not possible and the price follows a downtrend, the market price will be able to form a new support level if the candle breaks below the closing support on the h4 time frame. in the next few days. 50-day simple moving average color Medium Slate Blue: 150-day simple moving average color Dim Gray