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Silver: XAG/USD Continues to Look for Momentum
The Silver market experienced a significant decline on Wednesday as initially, the US dollar emerged as the default winner in early trading hours. However, releasing weak US and European PMI numbers in the previous 24 hours quickly turned the tide, introducing further uncertainty into the market. Remember, silver is not only a precious metal, but an industrial one as well. The focus now shifts to testing the 200-Day Exponential Moving Average, situated just below the $23 level. Additionally, the 61.8% Fibonacci retracement level is a potential support level. While there may be some underlying support, market ... (full story)
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- Posted: May 25, 2023 6:49am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 51
