XAG/USD bounces off two-year low/ascending channel support

Silver lost ground for the fourth straight day and dropped to a nearly two-year low on Thursday. Spot prices managed to find some support near the lower end of a downward slipping channel. The set-up still favors bearish traders and supports prospects for a further depreciating move. Silver witness selling for the fourth successive day … Read more

XAG/USD rebounds from multi-week low, not out of the woods yet

Silver dropped to a six-week low on Friday, confirming a bearish break below the $21.00 mark. Any meaningful recovery attempt could be seen as a selling opportunity and remain capped. The XAG/USD now seems vulnerable to weaken further below the $20.00 psychological mark. Silver reversed a knee-jerk slide to a six-week low and was last … Read more

XAG/USD plummets towards the $21.00 on broad US dollar strength

The white metal remains on the defensive and dives more than 2% on Thursday. Fed officials backed further rate hikes, though Fed chair Powell acknowledged that the US might get into a recession. Silver Price Forecast (XAG/USD): Stays downward biased, and a break below $21.00 might pave the way for fresh YTD lows. Silver (XAG/USD) … Read more

XAG/USD hangs near one-week low, seems vulnerable to slide further

Silver edged lower for the second successive day and dropped back closer to a one-week low. The set-up remains tilted in favor of bearish traders and supports prospects for further losses. Sustained strength beyond the $22.00 mark is needed to negate the near-term negative outlook. Silver struggled to capitalize on the previous day’s late rebound … Read more

XAG/USD seesaws in the $21.70-90 range on broad US dollar weakness

A risk-on market mood was no excuse for silver to advance, boosted by a soft US dollar. US Treasury yields fell, except for the 10-year TIPS, a headwind for silver prices. Silver Price Forecast (XAG/USD): In consolidation in the $21.50-$22.00 range. Silver (XAG/USD) snaps two consecutive days of losses and edges higher by 0.50% in … Read more

XAG/USD bulls attack $21.75 key hurdle

Silver struggles to extend Fed-inspired rally as bulls jostle with a short-term key resistance confluence. 10-DMA, weekly descending trend line restrictions immediate upside. Sluggish MACD, RSI challenges further upside, bears need validation from monthly horizontal support. Silver (XAG/USD) prices remain sidelined at around $21.70, following the biggest daily jump in over three months, as bulls … Read more

XAG/USD stays depressed around $21.00, looks set to retest yearly low

Silver prices remain pressured at one-month low after the biggest daily fall since early May. Impending bear cross on MACD, clear downside break of horizontal support from late 2021 favor sellers. 10-DMA, five-week-old descending trend line adds to the upside filters. Silver (XAG/USD) fails to overcome the bearish bias, even as the sellers take a … Read more

XAG/USD plummets to one-month low, seems vulnerable near 61.8% Fibo.

Silver met with aggressive supply near the $22.00 confluence resistance on Monday. The technical set-up favorites bearish traders and supports prospects for further losses. Sustained strength beyond the $22.00 mark is needed to negate the bearish outlook. Silver extended its rejection slide from the $22.00 confluence hurdle and dropped to a near one-month low, around … Read more

XAG/USD marches firmly towards $22.00 post-hot US inflation, weak consumer sentiment

Silver climbs on Friday but is still down in the week by 0.24%. US inflation rebounded from April’s 8.3% dip and rose strongly. The UoM consumer sentiment is at a 50-year low; stagflation looms? Silver (XAG/USD) advances after seeingsawing earlier in the day, reaching a three-week low at $21.27, but staged a recovery after the … Read more