MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    April 28, 2022

    Silver is on a 7-day losing streak.

    technical analysis top header -01

    The precious metal lost almost 10% in the last seven trading sessions, the general trend is now downwards as the price broke our 50% Fibonacci retracement last Friday, this often suggests a trend reversal and we would expect the price to continue falling in the short term.

     

    The short and long-term moving averages crossed on April 13th and the gap between the lines continues expanding, strengthening the short signals; however, there are some indicators that suggest that the price is likely to recover some ground in the next few sessions.

     

    Silver April 27th 2022

     

    The Bollinger bands are opening up aggressively, more so the lower band, which could act as support at $23.28, however, the pair is trading slightly below this level and the breakout could be completed soon, the next support level is on our 78.6% Fibonacci retracement at $23.123.

     

    The relative strength index is at 31% which is almost oversold, this is likely to incentivize investors to place long positions as they will be entering at a low price. Our parabolic SAR indicator suggests that the price will continue falling in the short term.

     

    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