Baxia Markets
January 27, 2022

Silver on a 5 day losing streak

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The precious metal has lost more than 5% in the last five trading sessions, the price could find support at 23.167 which is at the 23.6% Fibonacci retracement level.


The Bollinger bands are very wide and this will allow the pair to move in either direction in the short term, if the price is able to find support at the Fibonacci retracement, we would expect a rebound. The price trades in between the bands.


Silver Jan 26th


The relative strength index is at a very neutral level as well, 49%, which will also allow the price to move freely in either direction, we just need to wait and see if the price can find support.


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