MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    December 10, 2021

    Silver could hit lowest level since July 2020

    technical analysis top header -01

    The precious metal is on a downward trend since mid-November, it broke the 50%, 38.2%, and 23.6% Fibonacci retracement in less than 15 sessions, the pair continues to fall and it could reach the support at 21.445 in the next few days.

     

    The Bollinger bands are wide and pointing downwards, indicating that the price could continue falling in the short term, the price is not yet considered relatively low as the lower band is still below the current price line, this tells us that the price could potentially reach the mid 21 levels in the short term.

     

    Silver Dec 1st 2021

     

    The relative strength index is at 31% which is very close to the oversold status; the price could bounce once it gets closer to the support level on the previous low for the year at 21.445, this will allow Silver to begin a recovery, but we would have to wait and see if the support is strong enough to hold the dive.

     

     

    We love to hear new ideas from traders and want to know what you think! 

     

    If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

     

    Try Risk-Free Demo  

     

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

     

    Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

    Subscribe by Email