empty
 
 
08.04.2021 10:10 AM
Silver Another Swing Higher!

This image is no longer relevant

Silver (XAGUSD) has managed to jump above the downtrend line. The breakout signals that the rate may increase in the coming period.

As you can see on the H4 chart, the price has retested the broken downtrend line, dynamic resistance, confirming it as a support, downside obstacle.

Now is trying to stabilize above the 25.276 former high which could signal strong buyers and could bring a new opportunity.

Trading Conclusion!

Increasing further and reaching 25.500 psychological level is seen as a buying opportunity. The Stop Loss could be hidden below 23.852 lower low.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback