Silver prices take the bids near the highest in a week. A falling trend line from August 06 can challenge the bulls. Sellers may take entries below the weekly support line. Sustained trading beyond the key SMA, strong RSI conditions favor buyers. Silver prices rise to the intraday high of $27.87, while flashing 1.48% gains during the early Tuesday. The white metal cheers successful trading above 200-bar SMA amid strong RSI conditions. Buyers currently aim for a short-term falling trend line comprising multiple highs marked during the present month, at $28.10 now. However, the bullion’s further upside will be tamed by $29.40 and the monthly high near $29.85 before highlighting the $30.00 threshold. Meanwhile, sellers can look for entries below an ascending support line from August 12, near $26.60, which in turn will highlight 61.8% Fibonacci retracement of the metal’s rise from July 17 to August 06 at $23.10. In a case where the quote remains depressed below $23.10, $23.00 and 200-bar SMA level of $22.80 will be the key to watch. Silver four-hour chart Trend: Bullish 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 Coronavirus update: NZ report 13 new infections, Victoria’s new cases spike by 222 FX Street 2 years Silver prices take the bids near the highest in a week. A falling trend line from August 06 can challenge the bulls. Sellers may take entries below the weekly support line. Sustained trading beyond the key SMA, strong RSI conditions favor buyers. Silver prices rise to the intraday high of $27.87, while flashing 1.48% gains during the early Tuesday. The white metal cheers successful trading above 200-bar SMA amid strong RSI conditions. Buyers currently aim for a short-term falling trend line comprising multiple highs marked during the present month, at $28.10 now. However, the bullion’s further upside will be tamed… 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.
