Why Silver Is Under Pressure Again
Silver (XAG/USD) prices are moving lower after halting a three-day winning streak, down more than 1%, during European trading hours on Monday. Technical analysis of the daily chart shows that the precious metal remains in an ascending channel pattern, indicating a bullish bias is in effect.
As of this writing, Silver is trading at $36,613
Recommendations:
Buy if price breaks above $36,400
Sell if price breaks below $36,850
Resistance 2: $37,053
Resistance 1: $36,913
Support 1: $36,313
Support 2: $36,173
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id