Category: general

The post XAG/USD seems vulnerable below $49. 35-$49. 40 appeared com. Silver (XAG/USD) attracts some sellers following an Asian session uptick to the $48. 55-$48. 60 region and erodes a part of the previous day’s gains. The white metal currently trades around the $47. 75 region, down 0. 70% for the day. From a technical perspective, the XAG/USD has been struggling to build on its strength beyond the 38. 2% Fibonacci retracement level of the corrective slide from the all-time peak touched in October, around the $49. 35-$49. 40 supply zone. This, in turn, favors bearish traders and back the case for a further near-term depreciating move. However, neutral oscillators on the daily chart make it prudent to wait for acceptance below the $47. 00 mark before placing fresh bearish bets. The XAG/USD might then accelerate the fall towards the $46. 45 intermediate support en route to the $46. 00 round figure before aiming to retest the October swing low, around the $45. 75 region. On the flip side, the Asian session high, around the $48. 55-$48. 60 zone, might now act as an immediate hurdle, above which the XAG/USD could reclaim the $49. 00 mark. Any further move up, however, might remain capped near the $49. 35-$49. 40 region. A sustained strength beyond the latter might shift the bias in favor of bullish traders. The subsequent move up has the potential to lift the XAG/USD towards the $50. 00 psychological mark, which coincides with the 50% Fibo. retracement level. The momentum could extend further towards the $50. 55-$50. 60 intermediate hurdle en route to the $51. 00 mark and the $51. 20 region, or the 61. 8% Fibo. retracement level. Silver 4-hour chart Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential.