Silver (XAG/UD) started the new week on a subdued note and consolidated last week's retracement slide from or above one-month highs. The white metal remained close to a two-week low touched on Friday and traded around the $30.55 area, or the 100-day Simple Moving Average (SMA), during the Asian session.
From a technical perspective, acceptance below the 100-day SMA will be seen as a fresh trigger for bearish traders against the backdrop of last week's failure near the $32.35 horizontal resistance. Given that oscillators on the daily chart have just started gaining negative traction, XAG/USD might then become vulnerable to weaken further below the $30.00 psychological mark and test November lows, around the $29.70-$29.65 area. Some follow-through selling should pave the way for an extension of the downward trajectory towards the $29.10-$29.00 support zone en-route the $28.40-$28.35 region before XAG/USD eventually drops to the $28.00 round figure.
On the flip side, any meaningful recovery attempts now seem to face stiff resistance and remain capped near the $31.00 mark. However, a sustained strength above the last might trigger a short-covering rally and lift XAG/USD towards the $31.75 horizontal barrier. The momentum could extend further towards the $32.00 round figure en-route monthly swing highs, around the $32.35 horizontal zone touched last week.
Source: FXStreet
Silver is trading in a high range (the December COMEX contract is around $48–49/oz) as risk-off sentiment spreads and the US dollar weakened. The sharp rise in Challenger job losses in October boosted...
Silver held around $48.1 per ounce on Thursday, steadying after recent gains as investors digested stronger-than-expected US economic data. The ADP report showed that private employers added 42,000 jo...
Silver traded above $47.5 per ounce on Wednesday, snapping a three-day losing streak as global risk-off sentiment spurred demand for safe-haven assets. Global equities and other risk assets fell sharp...
Silver fell below $48 per ounce on Tuesday, sliding for the third straight session, as investors weighed the outlook for Federal Reserve policy while assessing the impact of easing US-China trade tens...
Silver (XAG/USD) weakened on Tuesday to around $47.70 per ounce, down 1.10% on the day, after attempting to extend its recent rally beyond $49.50. Selling pressure increased as the US dollar (USD) str...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...