Wednesday, October 20, 2021


XAG/USD to increase its restoration above the $26.00 stage – Commerzbank

Silver has eroded its four-month downtrend and 55-day transferring common and is anticipated to rally greater, in keeping with Karen…

By Staff , in Silver , at October 20, 2021


Silver has eroded its four-month downtrend and 55-day transferring common and is anticipated to rally greater, in keeping with Karen Jones, Workforce Head FICC Technical Evaluation Analysis at Commerzbank.  

XAG/USD on the lookout for additional features

“Above the market is the $24.95 current excessive, however resistance extends as much as harder resistance provided by the 200-day ma at $25.56 and $26.07, the August excessive. The market might want to regain this space to regenerate bullish impetus. Please notice that the 55-week ma additionally lies at $25.30. We favour the topside however it could take a number of makes an attempt to clear this band.” 

“Preliminary help is $22.85, the twentieth August low however the market is underpinned by its long run pivotal help at $21.87/17. These characterize the September and November 2020 lows and likewise the July 2014 excessive and the 2016 excessive. These are thought-about to be a significant band of help and we count on them to behave as a ground for the market.”

 



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