Silver trims early-Asian gains while taking a U-turn from $23.08. A three-day-old triangle formation restricts the bullion’s moves. 100 and 50-HMA are additional filters to watch amid near-term bearish bias. Silver prices decline to $22.90 as markets in Tokyo open for Monday’s trading. The white metal earlier surged to $23.08 but failed to keep the gains inside a triangle drawn from last Wednesday. Considering the commodity’s latest pullback, a confluence of 50-HMA and the support line of the mentioned triangle near $22.70/75 can limit additional downside. Also acting as near-term key support could be $22.40 that holds the gate for silver’s further weakness towards the monthly low of $21.65. Alternatively, an upside clearance of the mentioned triangle’s resistance line, at $23.13 now, needs validation from the 100-HMA level of $23.33 to aim for September 22 low near $23.85. Should there be a clear upside past-$23.85, last Tuesday’s high around $25.25 can lure the bulls. Silver hourly 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 EUR/USD Price Analysis: Weekly indicators turn bearish FX Street 2 years Silver trims early-Asian gains while taking a U-turn from $23.08. A three-day-old triangle formation restricts the bullion’s moves. 100 and 50-HMA are additional filters to watch amid near-term bearish bias. Silver prices decline to $22.90 as markets in Tokyo open for Monday’s trading. The white metal earlier surged to $23.08 but failed to keep the gains inside a triangle drawn from last Wednesday. Considering the commodity’s latest pullback, a confluence of 50-HMA and the support line of the mentioned triangle near $22.70/75 can limit additional downside. Also acting as near-term key support could be $22.40 that holds the gate for… 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.
