3 Jun 2020
Silver Price Analysis: XAG/USD drops to 2-day lows below $18.00/oz
- XAG/USD is falling to 2-day lows testing the 50 SMA on the four-hour chart.
- The level to beat for bears is the 17.25 support.
Silver four-hour chart
Silver is dropping below $18.00/oz while challenging the 50 SMA on the four-hour chart. A continuation of the bear move can extend to the 17.25 and 16.75 support levels in the medium-term. On the flip side, if the bulls can gather some traction, resistance can emerge near the 17.75 level followed by 18.40 resistance.
Resistance: 17.75, 18.40, 18.80
Support: 17.25, 16.75, 16.10
Additional key levels