- Silver prepares to end a week by more than 1.80 %, such as the strong pressure of the dollar.
- The soft and soft air style indicates that negative bias can accelerate.
- The main support lies in $ 32.70 and 50 days SMA; The rise was crowned with $ 33.69 and $ 34.00.
Silver price turned into a negative on Friday during the North American session, ready to end the week with losses of more than 1.80 %, as the dollar recovered during the day. Xag/USD is trading at $ 32.87, a decrease of 1.29 %.
Xag/USD price expectations: Technical expectations
Silver price trade was subject to the “Haramish Harami” candles with the effects of Habboudia. The momentum seems to be in favor of the sellers, as the RSI Index (RSI) has reached a lower basin in the neutral RSI line, which, if wiped, can indicate that the gray metal is preparing for the bottom of the leg.
If Xag/USD remains less than $ 33.00, the next support for breaching will be a decrease on May 29, $ 32.70. In this result, the following test will be the simple moving average for 50 days (SMA) at $ 32.68, followed by the SMA test for 100 days at $ 32.11 and SMA for 200 days at $ 31.40.
However, buyers who enter 33.00 dollars are looking for a leg of up to $ 33.69, which may pave the way for a challenge of $ 34. Based on another strength, the next resistance level for Xag/USD will be the increase of March 26 at 34.58 dollars, followed by $ 35.00.
Xag/USD PRICE CHART – daily
Common silver questions
Silver is very precious metals circulating among investors. It has been used historically as a value of value and amid exchange. Although it is less popular than gold, merchants may turn to silver to diversify their investment portfolio, compared to its fundamental value or as a possible hedge during high inflation periods. Investors can buy physical silver, in coins or in bars, or circulate through vehicles such as the boxes circulating in Excination, which follow their price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can make the price of silver escalating due to its safe position, although it is less than gold. As an inappropriate origin, silver tends to rise with low interest rates. Its movements also depend on how the US dollar (USD) is spent as the origin is priced in dollars (XAG/USD). The strong dollar tends to maintain the price of silver in the Gulf, while the dollar is likely to pay the weakest prices. Other factors such as demand for investment and mining offer – silver is much more abundant than gold – recycling rates can also affect prices.
Silver is widely used in the industry, especially in sectors such as electronics or solar energy, as it contains one of the highest electrical conductivity for all minerals – more than copper and gold. High demand in demand can increase prices, while the decline tends to reduce them. The dynamics in the United States and Chinese and Indian economies can contribute to price fluctuations: for the United States, especially China, its large industrial sectors use silver in various operations; In India, consumer demand for the precious jewelry also plays a major role in setting prices.
Silver prices tend to follow gold movements. When gold prices rise, silver usually follows its example, as its position as the similar safe origins. The percentage of gold/silver, which shows the number of ounces of silver needed to equal the value of one ounce of gold, to determine the relative evaluation between both minerals. Some investors may consider a high percentage as an indication that silver is dense with less than its value, or that gold is exaggerated. On the contrary, the low percentage may indicate that gold is less valuable for silver.
