- The money prices are climbing after testing the support nearly $ 31.90.
- The price action remains linked to the beach with key levels in force.
- The potential harami candle on the weekly graphus highlights market indecision and the softening of the bearish momentum.
The prices of money are recovered from previous hollows, supported by a renewed request at levels of technical support.
At the time of writing the editorial's time, XAG / USD is up 0.90% during the day, trading nearly $ 32.53, after briefly plunged below the simple 100 -day mobile average (SMA) at $ 31.90.
Advanced reflects an increase in purchase interest, although the wider market remains consolidating. Investors continue to weigh mixed economic data in the United States (United States) and the evolution of expectations concerning the Federal Reserve Policy (Fed), leaving money confined in a well-defined negotiation range.
Silver bounces support while buyers regain control
On the daily graphic, the current candlestick has a small real body near the top of a long lower wick – a classic sign of intraday lower pressure which was finally rejected.
Buyers intervened at the 100 -day SMA, pushing prices to the level of opening of the session. Although this does not confirm a bullish reversal, it highlights high demand at lower levels. The candle represents a defensive position by buyers rather than a clear change of trend. However, with the negotiation day still in progress, a confirmed closure is necessary to validate this decision.
The money remains limited between the SMA from 100 days to $ 31.90 and the SMA of 50 days to $ 32.76, with additional resistance at the psychological level of $ 33.00. Immediate support aligns with Fibonacci's retracement of 61.8% of the March-April rally, near the $ 32.00 bar. The relative resistance index (RSI) on the daily graph is 47.68, indicating a neutral moment profile.
Daily silver graphic (XAG / USD)
The weekly graph highlights a potential change in the momentum
On the weekly deadline, Silver seems to form a motif of Harami Haussier – an increased bumper candle developing in the body of the largest Lers candle for last week. This configuration often signals a potential loss of the lower momentum, especially when it occurs almost established support levels. In this case, Silver is above the Fibonacci retracement of 23.6% of the 2024 advance, located at $ 31.81.
Silver weekly graphic (XAG / USD)
SMAS 10 weeks and 50 weeks, positioned at $ 32.57 and $ 30.95, respectively, converge gradually, indicating a technical tightening structure. The relative resistance index (RSI) on the weekly graph is 52.75, reflecting a slightly optimistic bias but no strong dynamics anyway. A sustained break greater than $ 33.69 or a confirmed closure below $ 31.80 would probably determine the following directional movement for money.
Silver FAQ
Silver is a very exchanged precious metal between investors. It was historically used as a reserve of value and means of exchange. Although less popular than gold, traders can turn to money to diversify their investment portfolio, for its intrinsic value or as potential coverage during periods with high inflation. Investors can buy physical money, in coins or in bars, or exchange it via vehicles such as exchanged funds, which follow its price on international markets.
The prices of money can evolve due to a wide range of factors. Geopolitical instability or fears of a deep recession can increase the price of money because of its safety status, although to a lesser extent that gold. As an intake without yield, money tends to increase with lower interest rates. Its movements also depend on how the US dollar (USD) behaves as the asset is assessed in dollars (XAG / USD). A strong dollar tends to maintain the price of money remotely, while a lower dollar is likely to develop prices. Other factors such as investment demand, mining supply – money is much more abundant than gold – and recycling rates can also affect prices.
Silver is widely used in industry, especially in sectors such as electronics or solar energy, because it has one of the highest electrical conductivity of all metals – more than copper and gold. An increase in demand can increase prices, while a decrease tends to lower them. Dynamics in the United States, Chinese and Indian economies can also contribute to price oscillations: for the United States and in particular China, its major industrial sectors use money in various processes; In India, consumer demand for precious metal for jewelry also plays a key role in pricing.
Money prices tend to follow Gold movements. When gold prices increase, silver generally follows suit, because their original package status is similar. The gold / silver ratio, which shows the number of silver ounces necessary to match the value of an ounce of gold, can help determine the relative evaluation between the two metals. Some investors may consider a high ratio as an indicator that money is undervalued, or gold is overvalued. On the contrary, a low ratio could suggest that gold is undervalued in relation to money.
