Menu

Search

  |   Insights & Views

Menu

  |   Insights & Views

Search

Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies

Silver closed below 365- EMA for the first time since Feb 29th 2024 confirms bearish trend for the short-term. After hitting a low of $55.62, it’s currently hovering near $57.21.

Technicals

CMP -$57.21

Trend

 daily chart

Value

 

 

55 EMA

$72.41

CMP < 55 EMA

Bearish

200- EMA

$67.85

CMP < 200- EMA

Bearish

365- EMA

$58.63

CMP <365 EMA

Bearish

 

Major support- $55.60.  Any violation below targets $53.15/$50/$43  Near-term resistance - $60/$64/$67.85.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-227.12

ADX

Bearish

Strength increased from 14.45 to 30

 

It is good to sell on rallies around $58.68-70 with SL around $60.80 for a TP of $53.50/$50.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.