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Silver closed below 365- EMA for the first time since Feb 29th 2024 confirms bearish trend for the short-term. After hitting a low of $55.62, it’s currently hovering near $57.21.
|
Technicals |
CMP -$57.21 |
Trend |
|
|
daily chart |
Value |
|
|
|
55 EMA |
$72.41 |
CMP < 55 EMA |
Bearish |
|
200- EMA |
$67.85 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$58.63 |
CMP <365 EMA |
Bearish |
Major support- $55.60. Any violation below targets $53.15/$50/$43 Near-term resistance - $60/$64/$67.85.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-227.12 |
|
ADX |
Bearish |
Strength increased from 14.45 to 30 |
It is good to sell on rallies around $58.68-70 with SL around $60.80 for a TP of $53.50/$50.
