- Silver continues to lose Earth for the second day in a row and drop to the lowest level in one month.
- The technical preparation of the landmarks is preferred and supports additional losses.
- You may now look at any attempt to recover as an opportunity to sell and remain wrapped.
Silver (xag/USD) adds to severe losses the day before and attracts some follow -up for the second consecutive day on Friday. This also represents the fifth day of the negative step in the previous six and withdraws the white metal to the lowest level in one month, about $ 31.15 during the first half of the European session.
With the last leg drop, Xag/USD confirms a collapse via a multiple upward channel, and it seems that now I have found less acceptance than the REERERIRNANCT level in Fibonacci by 50 % in December-March. Moreover, the oscillator on the daily graph sticks deeply in the negative lands and is still far from being in the sale area, indicating that the course of less resistant to white minerals is to the negative side.
Consequently, the subsequent fall towards the SUB-31.00 levels test, or a convergence support includes the simple moving average for 200 days (SMA) and 61.8 % FBO. The level, it seems likely a distinctive possibility. Less convincing break will be seen as a new supporter for the landmarks. This would pave the way to extend the last sharp retreat segment from 34.55-34.60 dollars, or the highlands that were touched on March 28.
On the other side, i.e. 50 % over fibo. The level can be considered, about 31.65-31.70 dollars, as an opportunity to sell and remains near the round support brand 32.00 dollars, or the emerging channel stop point. However, some follow -up purchase, which leads to an additional move to more than $ 32.30 to $ 32.35 (38.2 % of the Fibo level.), May pay a short raising and allow Xag/USD to restore a brand of $ 33.00.
Silver daily chart
Common silver questions
Silver is very precious metals circulating among investors. It has been used historically as a value of value and amid exchange. Although it is less popular than gold, merchants may turn to silver to diversify their investment portfolio, compared to its fundamental value or as a possible hedge during high inflation periods. Investors can buy physical silver, in coins or in bars, or circulate through vehicles such as the boxes circulating in Excination, which follow their price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can make the price of silver escalating due to its safe position, although it is less than gold. As an inappropriate origin, silver tends to rise with low interest rates. Its movements also depend on how the US dollar (USD) is spent as the origin is priced in dollars (XAG/USD). The strong dollar tends to maintain the price of silver in the Gulf, while the dollar is likely to pay the weakest prices. Other factors such as demand for investment and mining offer – silver is much more abundant than gold – recycling rates can also affect prices.
Silver is widely used in the industry, especially in sectors such as electronics or solar energy, as it contains one of the highest electrical conductivity for all minerals – more than copper and gold. High demand in demand can increase prices, while the decline tends to reduce them. The dynamics in the United States and Chinese and Indian economies can contribute to price fluctuations: for the United States, especially China, its large industrial sectors use silver in various operations; In India, consumer demand for the precious jewelry also plays a major role in setting prices.
Silver prices tend to follow gold movements. When gold prices rise, silver usually follows its example, as its position as the similar safe origins. The percentage of gold/silver, which shows the number of ounces of silver needed to equal the value of one ounce of gold, to determine the relative evaluation between both minerals. Some investors may consider a high percentage as an indication that silver is dense with less than its value, or that gold is exaggerated. On the contrary, the low percentage may indicate that gold is less valuable for silver.
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