PrimeXBT

Silver May Soon See Further Upside

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OANDA:XAGUSD   Silver/USA-dollar
PrimeXBT has scanned the markets and gathered some pertinent information about XAGUSD that we would like to share with you.

Silver futures, meanwhile, continued their recent outperformance. They rose to $17.75 an ounce, just off an intraday high of $17.63 that was their highest in seven weeks. Silver has now risen 6.7%+ this month.

If its price is able to decisively break above the resistance level of 50% Fibonacci and its H12 candle closes above this level, we can begin looking for ideal long entries.

Silver, from a technical perspective, there are two key levels in the near-term. One above and one below the current price of $17.65 per ounce and below at $17.36 per ounce.

  • Day's Range: 17.37602 — 17.7689
  • Volume: 3.818K
  • Support Zone: 17.36 — 17.24
  • Resistance Levels: 17.65, 17.90

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