Silver (XAGUSD) Price Experiencing Low Bullish And Bearish Momentum – Cryptovibes.com – Daily Cryptocurrency and FX News

SILVER Weekly Price Analysis – July 11th

Should the bulls gain momentum, the price could rise to break the resistance level at $ 26, which could move further to $ 27 and $ 28. If the $ 26 resistance level is not broken, the price may continue a bearish trend towards the $ 25, $ 24, and $ 23 price levels.

XAGUSD market

Key levels:

Resistance Levels: $ 26, $ 27, $ 28

Support levels: $ 25, $ 24, $ 23

XAGUSD Long-term trend: Ranging

In terms of the long-term outlook, XAGUSD is in the range. Last week the price of silver tried to obey the bulls’ orders before the bears interrupted the price hike. The bulls are losing momentum and unable to drive price any further. Bear pressure weakened and price began to consolidate around the $ 26 resistance level. There has been no significant movement in the silver market. However, pressure from the bears increased before the weekly market closed.

The price of silver is below the 9-period EMA and the 21-period EMA with close contact with the two EMAs, suggesting low volatility in the silver market. The weekly market closed with a price level of USD 26. Should the bulls gain momentum, the price could rise to break the resistance level at $ 26, which could move further to $ 27 and $ 28. If the $ 26 resistance level is not broken, the price may continue a bearish trend towards the $ 25, $ 24, and $ 23 price levels.

XAGUSD Medium-term trend: Ranging

XAGUSD is in the ranging movement on the 4 hour chart. The bulls ‘momentum and the bears’ momentum appear to be the same on the 4-hour chart. The price consolidates around the $ 26 price level; the ranking movement can continue to radical events leading to volatility in the silver market.

The silver price hovers over the 9 period EMA and 21 period EMA as a sign of the market area. Period 14 of the Relative Strength Index is 50 levels, with the signal line indicating a downward direction.