Silver consolidates recent losses from a confluence of 50-bar and 100-bar SMAs. Sustained break of seven-day-old rising trend line highlights fortnight-long horizontal support on the bear’s radar. Bulls need to cross a falling resistance line from Tuesday for fresh entries. Silver retraces the heaviest losses in two weeks around $23.90 during Thursday’s Asian session. The white metal’s declines the previous day could be traced to a downside break of an ascending trend line from November 30. Though, a confluence of important Simple Moving Averages (SMAs) probes the bears, for now. Even so, the corrective bounce is yet to regain the trend line support, now resistance, which in turn directs the quote to multiple highs marked since November 25 around $23.55/50. If at all the sellers keep the reins past-$23.50, November-end top near $22.70 and the previous month’s low near $21.90 will become their favorites. On the contrary, an upside break of the previous support line, at $24.30 needs to cross the immediate resistance line, currently around $24.35, to recall the silver buyers targeting to refresh the monthly high of $24.86. In doing so, the commodity bulls will eye November’s peak close to $26.00. Silver four-hour chart Trend: Pullback expected 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 Litecoin Price Prediction: LTC buyers struggle to justify bounce off five-week-old support above 77.00 FX Street 2 years Silver consolidates recent losses from a confluence of 50-bar and 100-bar SMAs. Sustained break of seven-day-old rising trend line highlights fortnight-long horizontal support on the bear’s radar. Bulls need to cross a falling resistance line from Tuesday for fresh entries. Silver retraces the heaviest losses in two weeks around $23.90 during Thursday’s Asian session. The white metal’s declines the previous day could be traced to a downside break of an ascending trend line from November 30. Though, a confluence of important Simple Moving Averages (SMAs) probes the bears, for now. Even so, the corrective bounce is yet to regain the… Regulated 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.