Baxia Markets
January 09, 2022

Silver finds support at 21.95

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The precious metal ended a two-day losing streak and is up 0.81% today, not a very significant move, but as long as the price is consolidating we would not see very big movements in the short term. The price continues trading below the short and long-term moving average, leaving the commodity on a downtrend still.


The Bollinger bands are narrow and they are closing up, volatility could be lower in the upcoming sessions as the price continues being in a consolidation phase, the lower band stopped the price from falling even more, and we see slight profit today because of that.


Silver Jan 5th 2022


The relative strength index is at 42%, this would allow the pair to move up in the short to mid-term, but since it's in a consolidation period we would not expect a better performance, at least not until there is a breakout.


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