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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

10 December 2024 11:56  |

XAG/USD resumes its rally near $32.00

Silver (XAG/USD) prices extended its rally for the second day, trading around $32.00 per troy ounce during Asian hours on Tuesday. The daily chart analysis shows a bullish bias, with the currency pair moving up within an ascending channel pattern. Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further supporting the bullish sentiment.

The XAG/USD pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), strengthening the bullish outlook and signaling a strengthening of the short-term price momentum. This indicates increased buying interest and increases the likelihood of further price appreciation.

Until this News Release Silver Price is at $ 32,009

RECOMMENDATION

- Buy if price moves at least to $ 31,859

- Sell if price moves at least around $ 32,159

 

Resistance Level 2: $ 32,259

Resistance Level 1: $ 32,159

 

Support Level 1: $ 31,859

Support Level 2: $ 31,709

 

DISCLAIMER

Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.

Source: Newsmaker.id

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