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Silver (XAG/USD) Price Forecast: Testing Resistance Amid Bearish Pressure

From fxempire.com

Silver remains under pressure as it has been testing resistance near the 10-day and 100-day moving averages. Those averages previously acted as dynamic support and now serve as resistance. That flip reflects continued downward pressure. Bearish momentum has increased over the past found days. The first pullback to test resistance occurred on Wednesday, and resistance was seen near the 100-day moving average. Its significance is reinforced by the top line of a rising trend channel, which aligns with a similar price level. Then on Monday, resistance was confirmed near the 10-day moving average, which recently crossed ... (full story)

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  • Category: Technical Analysis