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    Baxia Markets
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    March 17, 2022

    Silver breaks two support levels

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    The precious metal lost more than 5% in the last six trading sessions after the rally ended. The price is managing to stay above the 38.2% Fibonacci retracement and is had a busy session with high volatility.

     

    The Bollinger bands are wide but they are starting to close down, which will cause volatility to start decreasing but at a slow rate as the bands are still very much open, the pair tarded in between the bands, suggesting that the price is at a fair level at.

     

    Silver March 16th

     

    The relative strength index is at 55% which will allow the price to move in either direction at this point, after three losing days, Silver finally made some progress after finding support at $24.475. XAG continues trading above the short and long-term moving averages, indicating that the uptrend might continue, if the support at 24.843 proves to be strong we would

     

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