After forming a hammer during the previous week, silver markets have had a good week. This is a strong indicator of a bottoming pattern, which means that silver seems to be heading in the right direction.
The support level is 22.703, while the resistance level is 22.793.’s The pivot point at 22.748 is where the price is most likely to move. Bullish bias is evident in the EMA of 10, but the EMAs of 100 and 200 remain stationary. It seems that the Stochastic is descending. It seems as if the RSI is heading near 50, but the ADX is not displaying any obvious direction of movement. Indicators are pointing to a downward trend in MACD’s histogram.

• There is resistance at 22.793, followed by resistance at 22.838 and 22.883
• There is support at 22.703. Below, there is 22.658 and 22.613.

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.

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