Silver recovers from 14-week low to regain $25.00. Sustained break of two-month-old support line keeps sellers hopeful. The key Fibonacci retracements, 100-day EMA offer short-term support. Silver prices take the bids near $25.20, up 1.8% intraday, during Monday’s Asian session. In doing so, the white metal trims the previous day’s losses, the biggest since August 11, which dragged it to the multi-day bottom. While the downside break of an ascending trend line from July 28 triggered the bullion’s fall, bearish MACD and 50-day EMA seem to restrict silver’s latest recovery moves. Other than the $25.17 EMA resistance, the September 05 low near $25.85 will also challenge the buyers’ attempt to regain the status beyond an upward sloping trend line, previous support, around $26.55. On the flip side, 50% and 61.8% Fibonacci retracements of the metal’s run-up between June and August, respectively around $23.40 and $21.85, will be the key levels on the bears’ radars. Also acting as downside support for silver traders could be the 100-day EMA level of $22.76 and lows marked during late-July near $22.30/25. Silver daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBA’s Debble: ‘The Australian Economy and Monetary Policy’ live event link FX Street 1 year Silver recovers from 14-week low to regain $25.00. Sustained break of two-month-old support line keeps sellers hopeful. The key Fibonacci retracements, 100-day EMA offer short-term support. Silver prices take the bids near $25.20, up 1.8% intraday, during Monday’s Asian session. In doing so, the white metal trims the previous day’s losses, the biggest since August 11, which dragged it to the multi-day bottom. While the downside break of an ascending trend line from July 28 triggered the bullion’s fall, bearish MACD and 50-day EMA seem to restrict silver’s latest recovery moves. Other than the $25.17 EMA resistance, the September 05… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
