Silver’s price fell, although it remained in a narrow range of price action. In spite of falling Treasury rates, the dollar gained ground. Silver’s price declined, but it stayed close to the 50-day moving average of 23.39 as a safety net. The 10-day moving average is a potential point of resistance for investors.
The support rests at 23.455 with resistance at 23.499. The price moves around the pivot point at 23.476. The EMA of 10 is moving in a bearish bias and it crossed the EMA of 100 and is going to reach the EMA of 200. The Stochastic is moving in low ranges. The RSI is moving in the oversold area and the ADX is showing an upward momentum. The MACD histogram is in negative territory.

• There is resistance at 23.499, followed by resistance at 23.520 and 23.543.
• There is support at 23.455. Below, there is 23.432 and 23.411.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

silveranalysis