Silver prices take a U-turn from a three-day high near $27.70. One-week-old falling trend line restricts immediate upside ahead of the multi-year high around $29.85. 100-bar SMA, short-term rising trend line keep buyers hopeful. Silver drops to $27.40, down 0.33% on a day, as markets in Tokyo open for trading on Friday. In doing so, the bullion snaps the previous two-day rise despite bullish MACD and a sustained run-up beyond the near-term key supports. As a result, sellers are likely to take fresh entries, targeting Wednesday’s high of $26.30, if the quote drops below $27.00 round-figures. Though, the white metal’s downside past-$26.30 will be challenged by 10-bar SMA level of $25.37 and an ascending trend line from July 28, at $23.43 now. On the contrary, the commodity’s fresh rise beyond the latest high around $27.70 will aim for a descending trend line from August 06, currently around $28.50. Additionally, buyers will not hesitate to challenge the recently refreshed multi-year high near $29.85 on the break of nearby resistance line. 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 RBA Lowe: Haven’t ruled out negative interest rates FX Street 2 years Silver prices take a U-turn from a three-day high near $27.70. One-week-old falling trend line restricts immediate upside ahead of the multi-year high around $29.85. 100-bar SMA, short-term rising trend line keep buyers hopeful. Silver drops to $27.40, down 0.33% on a day, as markets in Tokyo open for trading on Friday. In doing so, the bullion snaps the previous two-day rise despite bullish MACD and a sustained run-up beyond the near-term key supports. As a result, sellers are likely to take fresh entries, targeting Wednesday’s high of $26.30, if the quote drops below $27.00 round-figures. Though, the white metal’s… 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.
